Tag Archives: J.C. Penney

Vornado Chairman Roth Resigns from JCP Board as Company Looks to Sell Stake

Steven Roth

NEW YORK-In another high-profile exit, Steven Roth, chairman of Vornado Realty Trust, has resigned from the J.C. Penney board of directors. In addition, Vornado said in a filing with the U.S. Securities and Exchange Commission that Joseph Macnow, its executive vice president-finance and chief administrative officer, said “at a recent conference” that Vornado expects toMore »

Last updated: September 16, 2013

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 »

Last updated: September 12, 2013

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 »

Last updated: September 10, 2013

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 »

Last updated: September 6, 2013

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 »

Last updated: August 27, 2013

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 »

Last updated: August 23, 2013

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 »

Last updated: August 13, 2013