December 29, 2006 |
Department store operator J.C. Penney Co. said Thursday that it fired its chief operating officer but gave no reason for the move. Catherine West, 47, who also held the title of executive vice president, had been COO since July. She had no retail experience. A two-sentence news release from Penney gave no explanation for West's firing, and the company declined to make Chairman and Chief Executive Myron E. Ullman III available for comment.
November 10, 2006 |
J.C. Penney Co. and Kohl's Corp. on Thursday reported third-quarter profit gains and raised earnings forecasts. Net income at J.C. Penney, the third-largest U.S. department store company, climbed 23% to $287 million, or $1.26 a share. Discount department store chain Kohl's said profit rose 45% to $224.5 million, or 68 cents. Both companies are luring customers to stores with exclusive brands of clothing, such as J.C.
May 12, 2006 |
J.C. Penney Co. posted a better-than-expected 22% rise in fiscal first-quarter earnings Thursday, crediting strong sales of fine jewelry and shoes and a private-label business that helped drive profit margins higher. The Plano, Texas-based retailer raised its full-year earnings outlook by 2 cents a share, but the forecast still fell short of Wall Street targets. Shares of Penney fell 93 cents, or 1.4%, to $65.98. They have risen 19% year to date.
April 12, 2006 |
In a bid to lure young female customers, J.C. Penney Co. said it would open Sephora stores within its department stores starting this fall, under an agreement with the high-end cosmetics retailer. Sephora will open "store-within-stores" and be the exclusive seller of beauty products at J.C. Penney, which has been trying to erase its image as a dowdy middle-market department store operator with younger, more modern merchandise and marketing.
March 2, 2006 |
J.C. Penney Co. said it would move into the Westfield MainPlace shopping center in Santa Ana next year, taking over a site currently occupied by Robinsons-May. The move is part of a shake-up occurring in Southland malls as a result of Federated Department Stores Inc.'s purchase of May Department Stores Co. Federated is closing stores in many malls to reduce duplication. Plano, Texas-based J.C. Penney said it would renovate the building's interior before opening the store next spring.
February 17, 2006 |
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.
November 16, 2005 |
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.
August 17, 2005 |
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.
November 17, 2004 |
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.
October 28, 2004 |
J.C. Penney Co. named a former chairman and chief executive of both Macy's and luxury retailer LVMH Moet Hennessy Louis Vuitton to lead the department store company, replacing Allen Questrom. Myron E. Ullman III will replace Questrom on Dec. 1, Penney said Wednesday. Questrom, 64, had led a four-year turnaround effort that recently resulted in rising sales at the department store company.