Tag Archives: Myron Ullman III

J.C. Penney Slashes Q2 Loss as Sales Gain

J.C. Penney

PLANO, Texas-With net sales increasing for the second quarter in a row, J.C. Penney reported a net loss of $172 million in its fiscal second quarter, compared to a net loss of $586 million in the second quarter of last year. Net sales gained 5.1 percent to $2.8 billion in the quarter, which ended onMore »

Last updated: August 15, 2014

Record to Succeed Hannah as J.C. Penney CFO

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PLANO, Texas-Edward Record has been named executive vice president and chief financial officer of J.C. Penney. Record will succeed Ken Hannah on March 24. Hannah will stay on as the retailer’s financial chief “to ensure a smooth transition,” according to a J.C. Penney statement. The statement did not comment on Hannah’s future plans. Record willMore »

Last updated: February 13, 2014

J.C. Penney Q4 Comps Up; First Quarter Gain in Nearly Three Years

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PLANO, Texas-For the first time since the second quarter of 2011, J.C. Penney posted a quarterly same-store sales gain, with same-store sales up 2.1 percent for its fiscal fourth quarter. The department-store retailer added that same-store sales for the combined November-December period rose 3.1 percent over the same period from the previous year. J.C. PenneyMore »

Last updated: February 4, 2014

J.C. Penney Amends and Extends “Poison Pill” Plan

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PLANO, Texas-J.C. Penney’s board has changed the stockholder rights plan adopted last August—commonly called a “poison pill” plan—by extending its expiration date from Aug. 20, 2014, to Jan. 26, 2017, and lowering the threshold for a person or group to acquire the company from 10 percent. Under the terms of the amended plan, if anyMore »

Last updated: January 29, 2014

J.C. Penney Same-Store Sales Jump 10.1 Percent in November

J.C. Penney

PLANO, Texas-J.C. Penney logged a gain of 10.1 percent in its November same-store sales, according to a preliminary update from the retailer issued yesterday. The month, of course, included the all-important Thanksgiving weekend. The J.C. Penney statement added that its e-commerce sales through jcp.com ran ahead of last year and have continued their recent strength.More »

Last updated: December 4, 2013

J.C. Penney Continues Home-Department Transformation

Myron Ullman III

PLANO, Texas-Continuing its battle to return to profitability, J.C. Penney is proceeding with its retransformation of its home department from the shop-oriented format established by former CEO Ron Johnson to one organized by category and classification. In a conference call to financial analysts yesterday, CEO Myron Ullman III, who succeeded Johnson in April said thisMore »

Last updated: November 21, 2013