J. C. Penney Company news and archive

JCPenney files for bankruptcy to reduce debt

J. C. Penney Company, Inc. becomes the latest retail giant to enter into Chapter 11 bankruptcy. The company said in a statement that the restructuring support agreement (RSA) with lenders holding approximately 70 percent of JCPenney’s first lien debt is expected to reduce several billion dollars of indebtedness and provide increased financial...

Business

JCPenney manages to cut losses in Q3

Third quarter sales at J. C. Penney Company, Inc. reported total net sales decrease of 10.1 percent to 2.38 billion dollars. JCPenney’s comparable store sales decreased 9.3 percent for the quarter. For the third quarter, the company’s net loss improved from 151 million dollars or 48 cents per share last year to 93 million dollars or 29 cents per...

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JCPenney announces two senior executive appointments

J. C. Penney Company, Inc. has appointed Brooke Buchanan, a communications executive with over 15 years of experience, will join the company on October 28, 2019, as Senior Vice President, communications, reporting to Jill Soltau, the company’s Chief Executive Officer. The company also said in a statement that Robin Beuthin is joining JCPenney as...