J.C. Penney has moved from "buying to store capacity" to "buying and chasing" into demonstrated sales trends, says CFO Jeffrey Davis.
CEO Jeff Gennette says the retailer's strategic initiatives are starting to gain traction.
Comparable sales rose 1.3% in Q4 as the retailer's renewed emphasis on apparel helped bring in more shoppers and persuaded them to spend more.
The nominations of three new directors include former FASB head Leslie Seidman and former AT&T CFO Thomas Horton.
The retailer's forecast of flat to 2% growth in fourth-quarter same-store sales appeared to revive investors' doubts over its turnaround plan.
The Q3 revenue gain "is not bad per se, but ... it is clear that Chipotle has still not made up all of the ground it lost" after a food-safety…
NRD Capital will purchase the restaurant chain, which has lost money for nine straight quarters amid competition from fast-dining concepts.
The footwear chain plans to significantly reduce its store count as it focuses on its wholesale and e-commerce channels.
The retailer's stock falls 2% on the Q4 earnings report, indicating investors are skeptical about its turnaround strategy.
Investors express their impatience with the pace of IBM's turnaround effort by sending its shares down nearly 5% to $161.84.