Although J.C. Penney reported a wider-than-expected loss in the second quarter on a nearly 12% drop in revenue, small signs suggest that interim CEO Myron Ullman may be starting to turn things around.
J.C. Penney said activist investor Bill Ackman resigned from the company’s board and was replaced by former Federated Department Stores executive Ron Tysoe.
The Retail Industry Leaders Association elected Ron Boire, president of Sears and Kmart, to its board of directors, during its semi-annual meeting in Washington, D.C.
J.C. Penney on Monday unveiled a restructuring plan, which includes close five department stores and one home store, because they are no longer profitable enough.
JCPenney is looking for a solid sales performance from its 1,100 stores and online presence...