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J C Penney Co Inc

BUSINESS
February 17, 2006 | From Bloomberg News
J.C. Penney Co. said Thursday that fourth-quarter profit surged 65% on holiday sales of clothing and a tax gain. Net income rose to $551 million, or $2.34 a share, helped by a $101-million tax benefit. A year earlier, profit was $333 million, or $1.17. Sales climbed 4.2% to $6.2 billion, Plano, Texas-based J.C. Penney said. Sales at stores open at least a year, an important measure of retail health, rose 2.6% after J.C.
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BUSINESS
November 16, 2005 | From Times Wire Services
Major merchants reported third-quarter earnings Tuesday, led by J.C. Penney, which boosted its fourth-quarter earning forecast, saying it was well positioned for the holiday season. Saks Inc., which eked out a modest third-quarter profit, projected solid sales for its namesake luxury chain in the fourth quarter. Off-price retailer TJX Cos., parent of T.J. Maxx and Marshalls stores, reported a 15% profit drop for the third quarter and offered a modest fourth-quarter sales forecast.
BUSINESS
August 17, 2005 | From Bloomberg News
J.C. Penney Co. said second-quarter profit rose to $131 million on strong sales of private-label women's clothing and accessories. Net income increased from $1 million a year earlier. Per-share profit was 50 cents, contrasted with a loss of 2 cents a year earlier, Plano, Texas-based J.C. Penney said. Sales rose 5.4% to $3.98 billion, and the company raised its full-year profit forecast for the third time.
BUSINESS
November 17, 2004 | From Associated Press
The outlook for the holiday season brightened Tuesday after major retailers, including Wal-Mart Stores Inc. and J.C. Penney Co., offered bullish comments about consumer spending as they reported solid gains in fiscal third-quarter earnings. Wal-Mart, the world's largest retailer, raised its full-year earnings outlook after posting a 13% increase in third-quarter profit that matched Wall Street estimates.
BUSINESS
August 18, 2004 | From Associated Press
Department store operator J.C. Penney Co. eked out a small profit in its fiscal second quarter, compared with breaking even in the year-earlier period. The company said Tuesday that it earned $1 million, or 2 cents a share, in the three months ended July 31. The latest results included operating losses from the Eckerd drugstore business, which Penney sold during the quarter.
BUSINESS
April 2, 2004 | From Reuters
J.C. Penney Co. is nearing a deal to sell its struggling Eckerd drugstore chain in two parts to Canadian firm Jean Coutu Group and CVS Corp. for nearly $4.4 billion in cash, sources close to the situation said. The negotiations were entering their final stages Thursday but remained sensitive and could still fall apart, the sources said. The deal would mark the end of a six-month auction for the subsidiary, the fourth-largest U.S.
BUSINESS
October 14, 2003 | From Reuters
J.C. Penney Co. has launched a formal auction for its ailing Eckerd drugstore chain, though antitrust and pricing concerns could keep the pool of prospective buyers small, sources close to the situation said. The Plano, Texas-based retailer recently asked banker CSFB to begin soliciting bids for Eckerd, the No. 4 U.S. drugstore chain, which suffers from pricing problems, difficulty keeping merchandise in stock and inconvenient locations.
BUSINESS
September 30, 2003 | From Bloomberg News
Wal-Mart Stores Inc., the world's largest retailer, said September sales would increase as much as 5%. J.C. Penney Co., the second-largest department-store chain in the U.S., said sales were at the low end of its forecast. Sales at U.S. stores open at least a year remained at the high end of Wal-Mart's forecast, a spokesman for the Bentonville, Ark.-based retailer said. J.C. Penney, based in Plano, Texas, had forecast an increase of 1% to 3% for the month ended Saturday.
NATIONAL
August 24, 2003 | From Times Wire Reports
Gov. Kenny Guinn is joining Ely residents in an effort to save Nevada's oldest J.C. Penney store. In a letter, Guinn has urged company Chairman and Chief Executive Allen Questrom to reconsider the decision to close the Ely store. Opened in 1910, it's the last department store in the struggling mining town of 4,000 located 320 miles east of Reno. J.C. Penney spokesman Quinton Crenshaw said the company has extended the closing date from Oct. 25 to Jan. 10 in a concession to residents.
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