All Posts Tagged Tag: ‘j.c. penney’

Sam’s Club Will Lay Off 2% Of Its Workers

In its largest wave of job cuts in four years, Wal-Mart Stores Inc announced Friday that it would be cutting 2 percent (2,300 jobs) of its workforce at its Sam’s Club retail warehouse chain; Sam’s Club has an estimated 116,000 U.S. employees with 600 locations nationwide. The layoffs are a reaction to compete with big name rivals like members-only warehouse …

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Penney Store Closings of 33 Locations Will Cut 2,000 Jobs

On Wednesday, January 15th, J.C. Penney Co. announced the shutdown of 33 stores mainly located in smaller markets that have been experiencing a continual decline in customer visits. According to Chief Executive Mike Ullman, the clothing company chain has experienced a drastic fall in sales and the closing of selective locations will help to improve the performance of the company’s stores. …

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J.C. Penney Announces The Closing of 33 Stores Nationwide, Cuts 2,000 Jobs

On Wednesday, Jan. 15 the J.C. Penney Company, Inc. announced that it would be closing a total of 33 stores across the United States. In a brief press release earlier today, the ailing retail chain stated that the executive order was made as apart of the company’s ‘turnaround effort’ to focus its attention on opportunities with the highest growth potential. …

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J.C. Penney Apology Ad Asks Customers to Come Back

It’s no secret that J.C. Penney has been losing customers over the past year. The company hired Apple exec Ron Johnson as CEO and began turning the department store pricing model on its head. Instead of setting high prices with constant sales and coupons, the company instead decided to price its clothing at moderate to low prices and ditch the …

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J.C. Penney: $1.75B Loan Taken From Goldman Sachs

In early April, J.C. Penny CEO Ron Johnson stepped down following over one year of dismal financial results at the company. Johnson had attempted to turn the department store business on its head, eschewing sales and coupons in favor of consistently lower pricing, but the company’s board was forced to make changes due to a plummeting stock price and an …

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J.C. Penney: $850 Million Borrowed to Shore Up Inventory

J.C. Penney today announced that it has borrowed $850 million from a revolving credit fund of $1.85 billion. The company stated that the money will be used to ensure the company’s liquidity and replenish inventory levels. “Earlier this year, we increased our revolving credit facility in anticipation of operating, working capital and capital expenditure needs, especially during the first half …

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Fake J.C. Penney Prices Are No More, Store Says

It’s a rather sneaky way of doing business, but getting into the heads of customers and making them think they’ve gotten a better deal than they actually have is something retailers have been doing for decades. Rather than putting a fixed price on an item, they’ll put an original price–often jacked up to twice what they’re really selling it for–as …

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