J.C. Penney Co., the department- store chain that hasn’t been profitable since 2011, sank in New York trading after saying it would sell shares to raise as much as $932 million and lowering its year-end liquidity forecast.
Dimon met with Eric Holder yesterday to negotiate about all the things JPMorgan is being sued for. The headline on this DealBook piece is "JPMorgan Urged to Pay More in Mortgage Deal," which I guess is how deals work.
J.C. Penney Co., the retailer trying to reverse $1.6 billion of losses in the past year, sank the most in almost seven months after Goldman Sachs Group Inc. said its liquidity will be strained this quarter.
Allen Schwartz, who decided to end his apparel firm’s exclusive supplier deal with J.C. Penney Co. after five years, said he’s yet to see a sales rebound at the department-store chain that lost $1.61 billion in the past year.
Vornado Realty Trust Chairman and Chief Executive Officer Steven Roth resigned from J.C. Penney Co.’s board as his firm plans to sell its stake, ending a costly three-year attempt to remake the department-store chain.
Mall owners, the best-performing U.S. property stocks for four years, have tumbled to the worst as sluggish retail sales and limited opportunities to expand drive investors to look elsewhere for earnings growth.
A New York Post article saying J.C. Penney Co. is ending a home-goods deal with Martha Stewart’s company while facing a Macy’s Inc. lawsuit is the subject of a court hearing set for Sept. 25, a person familiar with the matter said.
Glenview Capital Management LLC joined J. Kyle Bass in raising its stake in J.C. Penney Co., becoming its biggest shareholder in a bet the retailer will recover after Bill Ackman ended a revamp effort last month.