Tag Archives: Ron Johnson

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 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 »