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

$JCP {{ '2016-07-21T23:58:45+0000' | timeago}} • Announcement

$JCP said its BoD appointed CEO Marvin Ellison to additional position of Chairman, effective Aug. 1, 2016. Ellison succeeds Myron Ullman, III who will be retiring in accordance with transition plan that $JCP outlined in 2014. Longtime retail executive Ronald Tysoe, who has served on board since 2013, will continue as Lead Independent Director.

$JCP {{ '2017-08-17T13:33:29+0000' | timeago}} • Announcement

$JCP announced the election of  Wonya  Lucas,  president and CEO  of  Public  Broadcasting  Atlanta,  to  its  BoD.

$JCP {{ '2017-08-11T19:09:11+0000' | timeago}} • Webcast

For comp stores, $JCP's units per transaction and average unit retail increased when compared to prior year period. The company recognized Southwest and Southeast as the best-performing regions as the best performing regions, while Northeast was listed as the worst-performing region during the quarter.

$JCP {{ '2017-08-11T19:02:40+0000' | timeago}} • Webcast

During 2Q17,  $JCP said it plans to close 138 stores, by which the company can improve its working capital, generate more cash flow and can invest capital in productive locations. With the commencement of the store closing program, the company expects to record approx.$50MM in restructuring charges.

$JCP {{ '2017-08-11T14:14:14+0000' | timeago}} • Infographic

$JCP J. C. Penney Company Earnings AlphaGraphics: Q2 2017 highlights

$JCP {{ '2017-08-11T14:04:44+0000' | timeago}} • Announcement

For FY17, $JCP expects it adjusted earnings per share to be in the range of $0.40-0.65 and comparable store sales to be down 1% to up 1%.

$JCP {{ '2017-08-11T14:01:51+0000' | timeago}} • Announcement

$JCP reported a wider loss of $62MM, or $0.20 per share in 2Q17, compared to $56MM, or $0.18 per share in 2Q16. Net sales during the quarter rose 2% to $2.9Bil. Comparable store sales declined 1.3%. Excluding items, $JCP reported net loss of $0.05 per share.

$SWK {{ '2017-07-25T17:18:45+0000' | timeago}} • Announcement

$SWK named Janet Link SVP, General Counsel and Secretary. Link joins the company from $JCP where she served as General Counsel. Link succeeds Bruce Beatt who is retiring from the company after 17 years of service.

$SWK {{ '2017-07-25T15:22:57+0000' | timeago}} • Announcement

$SWK appointed Janet Link as SVP, General Counsel and Secretary. Link joins the company from $JCP where she served as General Counsel. She succeeds Bruce Beattwho is retiring from the company. Link's appointment is effective immediately and Beatt will remain with $SWK for a transition period extending through April 2018.

$JCP {{ '2017-07-25T13:20:28+0000' | timeago}} • Announcement

$JCP appointed Jeffrey Davis as EVP and CFO, effective July 24, 2017. He will succeed Andrew Drexler, who has been serving as interim CFO while the company completed its search. Davis will report to Marvin Ellison, chairman and CEO of JCPenney. Davis most recently served as CFO at $DRI.

$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.

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