Tag Archives: Myron “Mike” Ullman

Q1 Sales Up for J.C. Penney

J.C. Penney

PLANO, Texas–J.C. Penney posted a loss of net income of $352 million in the first quarter ended May 3, compared to a $348 million loss in the year-ago period, but reported a 6.3 percent net sales increase, to $2.80 billion. Same-store sales increased 6.2 percent and improved sequentially each month within the quarter, the retailerMore »

Last updated: May 16, 2014

JCP Board, Ackman in Fight Over CEO Search

JCP

PLANO, Texas-The search for a J.C. Penney CEO successor to Myron “Mike” Ullman has turned into a battle of words—which could lead to the possible return of Allen Questrom. Yesterday, activist investor Bill Ackman, whose investment firm, Pershing Square Capital Management, owns nearly 18 percent of the retailer’s outstanding shares, issued a letter to theMore »

Last updated: August 9, 2013