$JCP (J. C. Penney Company, Inc.)

$JCP {{ '2016-05-13T13:18:58+0000' | timeago}} • Webcast

$JCP said its window treatment offering represents a $200MM sales opportunity. The company plans to increase and enhance the window coverings presentation by an average of 25% in approx. 500 stores by early fall.

$JCP {{ '2017-07-24T13:50:50+0000' | timeago}} • Announcement

$JCP has rolled out Apple Pay to all stores nationwide. The company will also make its credit card available on Apple Pay, which allows credit card users to earn shopping points through its loyalty program JCPenney Rewards.

$JCP {{ '2017-07-13T13:05:00+0000' | timeago}} • Announcement

$JCP continues to explore new merchandise categories and differentiate its business. The retailer is opening toy shops in all of its brick-and-mortar locations with a significantly expanded assortment available at its website. $JCP has doubled online assortment of toys over last year with plans to expand even more by holiday shopping season.

$JCP {{ '2017-07-10T22:19:04+0000' | timeago}} • Announcement

$JCP said Edward Record will step down as EVP & CFO effective July 11 to pursue other interests. Record will remain with the company in an advisory capacity until Aug. 7 to assist with the transition while a search for his replacement is conducted. Andrew Drexler, SVP, Chief Accounting Officer and Controller, will serve as Interim CFO.

$JCP {{ '2017-06-20T22:26:08+0000' | timeago}} • Announcement

$JCP completed the refinancing of its $2.35Bil senior secured asset-based revolving credit facility. The amended and restated facility provides improved pricing terms and extends the maturity from 2019 to 2022. The revolving line of credit will remain available for working capital needs and general corporate purposes.

$JCP {{ '2017-05-23T14:03:04+0000' | timeago}} • Announcement

$JCP appointed Marci Grebstein as EVP, chief marketing officer. Grebstein will join the company in June. Grebstein will report to Chairman and CEO Marvin Ellison. Grebstein most recently served as chief marketing officer for $LOW's Home Improvement.

$JCP {{ '2017-05-12T13:36:01+0000' | timeago}} • Webcast

$JCP said its private brands out-comped national brands for 1Q17. Additionally, margins significantly improved in private brands in the quarter as the company's sourcing initiatives are starting to kick in. On store closures, $JCP is seeing no sales impact for 2Q17 as it pulls those stores off from the comp calculation for the quarter.

$JCP {{ '2017-05-12T13:20:54+0000' | timeago}} • Webcast

$JCP expects to generate between $300-400MM in free cash flow in 2017. This expectation includes the expected cash impacts from the company's store closings and charges related to the voluntary early retirement program.

$JCP {{ '2017-05-12T13:00:20+0000' | timeago}} • Webcast

$JCP expects to open 16 Sephora locations in the month of June and is in the process of rolling out 100 new appliance showrooms in May. The company is seeing benefits from its GM initiatives that were laid out in the previous quarter and expects these GM initiatives to offset the expected pressures from the growing online and appliances businesses.

$JCP {{ '2017-05-12T12:27:53+0000' | timeago}} • Infographic

$JCP J. C. Penney Company Earnings AlphaGraphics: Q1 2017 highlights

$JCP {{ '2017-05-12T11:54:48+0000' | timeago}} • Announcement

$JCP still sees FY17 comparable store sales to rise or fall 1% with a 20-40 basis point hike in gross margin, generating an adjusted EPS of $0.40-0.65. J.C. Penney ended 1Q17 with a liquidity position of approximately $2.4Bil.

$JCP {{ '2017-05-12T11:52:00+0000' | timeago}} • Announcement

Comparable store sales of $JCP fell 3.5% in 1Q17, even as the department store received a benefit of $17MM due to tax impact from other comprehensive income allocation, and $4MM of benefit from primary pension plans. Inventory at the end of the quarter was up 0.8% to $2.95Bil, while cash and cash equivalents were $363MM.

$JCP {{ '2017-05-12T11:46:55+0000' | timeago}} • Announcement

$JCP's total net sales slipped 3.7% to $2.7Bil in 1Q17, as the department store chain posted a wider net loss of $180MM from last year's $68MM. Losses were $0.58 per diluted share vs. $0.22 loss a share, mainly due to $220MM in restructuring charges regarding store closings and voluntary early retirement program in the quarter.

$JCP {{ '2017-05-05T20:47:32+0000' | timeago}} • Announcement

$JCP has reached an agreement in principle to settle its securities class action lawsuit pending in the United States District Court for the Eastern District of Texas. The $97.5MM settlement will be funded by insurance and will have no financial impact to the company.

$JCP {{ '2017-04-24T19:33:50+0000' | timeago}} • Announcement

$JCP is partnering with SEPHORA for the addition of 70 new SEPHORA inside JCPenney locations and 32 expansions beginning May 5. SEPHORA inside JCPenney will be available in nearly 650 JCPenney stores in 2017.

$HSY {{ '2017-03-13T15:04:09+0000' | timeago}} • Announcement

$HSY has named Mary Beth West as its SVP and Chief Growth Officer, effective May 1. Most recently, she served as Chief Customer & Marketing Officer at $JCP. She will report to CEO Michele Buck.

$JCP {{ '2017-03-03T10:51:05+0000' | timeago}} • Announcement

$JCP has announced the election of Debora Plunkett, former senior advisor to the director of the U.S. National Security Agency (NSA), to its BoD. The company also announced that Colleen Barrett, President Emeritus of $LUV, will retire from the Board on May 19, 2017.

$JCP {{ '2017-02-24T14:22:01+0000' | timeago}} • Webcast

$JCP continues to make progress with its present inventory position. Including the impact from store closures, the company expects total inventory at the end of 2017 to be down 5% or more compared to 2016.

$JCP {{ '2017-02-24T14:05:26+0000' | timeago}} • Webcast

$JCP said that going forward the company expects to reduce its outstanding debt and continue to delever its debt position. The company also expects to make progress in its leverage ratio and expects 2017 net debt to EBITDA ratio to be approx. three times by the end of 2017.

$JCP {{ '2017-02-24T13:59:11+0000' | timeago}} • Webcast

$JCP's online business was strong in 4Q16 and delivered double digit growth for the quarter and for the full year. The company increased its private label credit penetration by about 600 BP in the last three years and expects to increase credit penetration by 200 BP in 2017.

$JCP {{ '2017-02-24T13:52:20+0000' | timeago}} • Announcement

$JCP said it will close distribution center located in Lakeland, Fla. in early June, by which operations will transfer to its logistics facility in Atlanta as part of strategic effort to streamline store support services. $JCP also is in process of selling its supply chain facility in Buena Park, Calif. to monetize a lucrative real estate asset.

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