J.C. Penney Cuts Losses and Partners With thredUP

Shares of J.C. Penney jumped after the ailing department store cut its quarterly losses in half and announced it would partner with the online used clothing resale company thredUP, in another bid to boost flagging sales. Retailers have been searching for ways to get people back into their stores as the retail industry has been […]

J.C. Penney’s Financial Woes Might Be Eased With a Debt Swap

J.C. Penney Co. creditors are pushing for discussions on a possible debt swap that would give the company’s new managers more time to turn the struggling retailer around. Some of the department-store chain’s bondholders are seeking to rework a portion of its $4 billion of debt well ahead of their maturities in an effort to […]

Should Mall Landlords Become Lenders to Struggling Retailers?

Mall landlords accustomed to offering rent reductions to ailing retailers are mulling a new strategy to bolster their own flagging industry: Positioning themselves as lenders to tenants having difficulty staying afloat. Boutique bank PJ Solomon has organized discussions with several mall owners about pursuing such a strategy with troubled retailer Forever 21 Inc., according to people with […]

Barneys’ Bankruptcy Shows Dangers of Luxe Department Store Expansions

Among the immediate casualties of Barneys New York’s bankruptcy protection filing this week are the luxury department store chains’ locations in Seattle and Las Vegas. That’s a good thing. The downtown Seattle store is hardly more exciting than a Banana Republic and barely frequented, just a stone’s throw away from Nordstrom’s lavish flagship, an inexplicably […]

Barneys New York Secures a Larger Capital Infusion to Pay Bills, Reorganize

Barneys New York has received a new lifeline, less than one day after the iconic luxury fashion retailer filed for Chapter 11 bankruptcy protection. In a last-minute announcement late Tuesday at the start of the company’s first bankruptcy hearing, attorneys for Barneys said the company received a larger capital-infusion offer, extended by Brigade Capital Management […]

Barneys Files for Bankruptcy Protection, Announces Store Closures

Barneys New York Inc. has filed for bankruptcy protection from creditors and laid out plans to shutter most of its stores after getting squeezed by rising rents and fewer visitors to its luxury fashion boutiques. The Chapter 11 filing in New York allows the department-store chain to stay open while it seeks to sell a […]

Stores sweeten wages and benefits amid tightening labor market

Despite an industry shakeout that’s been dubbed the retail apocalypse, store workers who have hung in there are seeing better pay than a generation ago, even with inflation. Minimum wage increases by states and across major chains, like Walmart Inc., Target Corp., and Costco, have jump-started the income gains. The pay hikes are also being fueled by a tight labor […]

What Kohl’s Awful Numbers Tell Us About J.C. Penney’s Prospects

Kohl’s kss investors hoping for the retailer’s continued turnaround got a fright on Tuesday when it announced dismal first-quarter results and slashed its 2019 forecasts. But Kohl’s results–a 3.4% comparable sales decline that was far worse than Wall Street expected–are even scarier to another chain’s shareholders: J.C. Penney, jcp the struggling department store chain that […]