Is the Coronavirus An ‘Existential Threat’ For Retailers?
At the best of times, many retailers were struggling to gain any footing with customers, but now it is even more difficult to survive.
Can Big Retailers Be Saved?
Innovative store concepts are buying some time, but brands like Macy’s and J.C. Penney need a lot more to reverse the falloff in sales.
Online Clothing Reseller ThredUp Gets $175 Million Infusion
The company plans to expand its platform to offer resale services to retailers, and recently announced partnerships with Macy’s and J.C. Penney.
CFOs on the Move: Week Ending Nov. 2
J.C. Penney, Gibson Brands, Russell Investments, Cobham Advanced Electronic, Wag!, Westwood, Sentry Data, Revolution Foods, Powell Industries, AbbVie
J.C. Penney Reports Sizable Net Loss, Slashes Guidance
J.C. Penney has moved from "buying to store capacity" to "buying and chasing" into demonstrated sales trends, says CFO Jeffrey Davis.
J.C. Penney Shares Dive on Q4 Sales Miss
The retailer's results were sharply lower than rivals Macy's and Kohl's, and a downbeat full-year profit forecast added to investors' concerns.
Sales Rebound Drives JC Penney Stock up 14%
Penney's surprising 1.7% gain in same-store sales indicates its "strategy of purging excess inventory and closing underperforming stores" is paying off.
JC Penney Stock Dives 14% on Q3 Loss Warning
The struggling retailer now projects a loss of between 40 cents to 45 cents a share due to clearance of apparel inventory.
Q2 Earnings Send JC Penney Stock to New Low
The retailer's loss widens to $62 million but CEO Marvin Ellison sees the 1.5% increase in sales and the improved performance of apparel as positive signs.
CFOs on the Move: Week Ending July 28
U.S. Steel, Darden Restaurants, TrueGreen, J.C. Penney, Ellucian, Applied Materials, Citrix Systems, Dewberry, The Buckle, Vera Bradley, Gilsbar
J.C. Penney Names New CFO
The hiring of Jeffrey Davis, former finance chief at Darden Restaurants, comes in the wake of Edward Record's resignation earlier this month.