Tag Archives: J.C. Penney

Bodum Sues J.C. Penney Over Shop Concept Agreement

BODUM_ShopAtJCPenney

NEW YORK-Bodum USA has filed suit against J.C. Penney alleging that the retailer breached the contract for the proposed shop concept involving the housewares manufacturer. In the suit, which was filed in New York State Supreme Court, Bodum said J.C. Penney failed “to  properly implement a program … to construct and feature Bodum’s merchandise inMore »

MSLO: J.C. Penney Deal Still On

Martha Stewart

NEW YORK–The agreement between J.C. Penney and Martha Stewart Living Omnimedia (MSLO) remains in effect, according to a statement from MSLO. The statement, as received by HFN, is an apparent contradiction of a report which stated that J.C. Penney’s CEO, Myron Ullman, had decided to end the deal and remove Martha Stewart-branded merchandise from theMore »

Report: JCP to End Martha Stewart Deal

J.C. Penney

NEW YORK-J.C. Penney will take its Martha Stewart merchandise off its shelves, according to a report from the New York Post, in an apparent end to the highly controversial deal between the retailer and Martha Stewart Living Omnimedia (MSLO). The report, which has been picked up by numerous news outlets, said Myron Ullman, J.C. Penney’sMore »

Ackman Jumps JCP Ship, Puts Shares Up for Sale

J.C. Penney

NEW YORK-Pershing Square Capital Management, the investment firm run by activist investor Bill Ackman, has put its shares of J.C. Penney stock up for sale. The shares, which number 39,075,771, constitute 17.7 percent of the retailer’s outstanding stock, the largest percentage held by any shareholder. The company is pricing them at $12.90 per share, andMore »

J.C. Penney Adopts “Poison Pill” Stockholder Rights Plan

J.C. Penney

PLANO, Texas-The J.C. Penney board of directors has adopted a stockholder rights plan generally referred to by the investment community as a “poison pill.” According to a filing with the U.S. Securities and Exchange Commission, the plan restricts any person or group from acquiring 10 percent or more of the retailer’s outstanding common stock, andMore »

J.C. Penney Q2 Loss Widens; New Home Format Falling Short

J.C. Penney

PLANO, Texas-The second quarter brought a new flow of red ink to J.C. Penney’s bottom line, along with indications that the strategy for the home department put in place by the retailer’s previous CEO, Ron Johnson, has not worked with shoppers. The company’s net loss in the quarter, which ended on Aug. 3, was $586More »

Ackman Resigns from JCP Board

Bill Ackman

PLANO,Texas-Bill Ackman has resigned from J.C. Penney’s board of directors after conducting a widely public challenge to the board regarding the retailer’s leadership. J.C. Penney announced that Ronald Tysoe, former vice chairman of Federated Department Stores (now Macy’s Inc.) has been elected to the board, effective yesterday. The retailer also said another director will beMore »