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.
August 18, 2004 |
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.
April 6, 2004 |
CVS Corp. scrambled to the top ranks of the drugstore industry Monday by acquiring about half of J.C. Penney Co.'s Eckerd chain to push past Walgreen Co. in number of stores and challenge its rival in total revenue. Penney announced Monday that it had sold Eckerd to CVS and Canada's Jean Coutu Group Inc. in two deals valued at $4.53 billion. CVS, based in Woonsocket, R.I.
April 2, 2004 |
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.
October 14, 2003 |
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.