J.C. Penney Closing Two NYC Stores Including Herald Square
J.C. Penney has decided to close its Manhattan Mall location in New York’s Herald Square.
department stores
Coresight: Challenges Loom For Mall Operators
Shopping malls face a tough go of it in reopening as coronavirus-related shopping restrictions ease, according to a Coresight Research report, with consumer wariness only one of the challenges they face.
Macy’s Sets Plans For Safe Holiday Promotions
COVID-19 forced retailers to rethink operations as spring moved into summer, but now that the progression into the holiday season is at hand, Macy’s is already formulating plans to deal with the circumstances it will have to confront.
Macy’s Hit By Big Q1 Loss, Expects Gradual Recovery
In the first quarter, Macy’s posted a big loss, but the company said recovery from COVID-19 pandemic-related shutdowns has been strong.
Macy’s Restructures To Address Pandemic’s Sales Impact
Macy’s is restructuring to align its cost base with anticipated near-term sales as the business recovers from the impact of the COVID-19 pandemic, including the closure of stores from March 18 through May 4, 2020 and gradual reopening.
Saks Completes Store Reopenings In Manhattan
As New York advances its emergence from COVID-19 shopping restrictions, Saks Fifth Avenue has reopened its Manhattan flagship store.
J.C. Penney Slates 13 More Store Closures
J.C. Penney has taken the next step in implementing its store optimization strategy, adding 13 store closures as part of its second phase, pending court approval. Store sales are expected to begin on or around July 3.
J.C. Penney Begins Store Closing Sales
A team of disposition firms consisting of Gordon Brothers, Hilco Merchant Resources, Great American Group and Tiger Group have commenced store closing sales at 137 J.C. Penney stores across the U.S. The closures are the company’s first step in implementing a planned store optimization strategy.
Macy’s Secures Financing But Signals Q1 Loss
Macy’s has secured new financing to shore up its business, while revealing that its preliminary sales and earnings results for the first quarter included a loss and lower sales, although it said e-commerce and reopened stores are performing well.
J.C. Penney To Close 154 Stores
Following a comprehensive evaluation of its retail footprint and a careful analysis of store performance and future strategic fit for the company, J.C. Penney identified the first phase of 154 store closures.
Macy’s Responds To Herald Square Store Break In
Looters broke into Macy’s flagship store in New York’s Herald Square on the night of June 1 in the aftermath of protests related to the death of George Floyd, and the company issued a brief statement on June 2 about how civil unrest has affected the company.
Nordstrom Aims To Regain Footing As Q1 Sales Decline
As it looks to a future beyond the COVID-19 crisis, Nordstrom pointed to its pursuit of strategic omnichannel initiatives even as the company reported sales and earnings declines in the first quarter.
J.C. Penney Reopens 150 Additional Stores
J.C. Penney has reopened its doors at 150 additional stores in 27 states, bringing the total to 304 reopened stores nationwide after temporarily closing due to the pandemic.
Macy’s Forecasts Challenging Q1 Results
As it adapts to the coronavirus-impacted retail environment, Macy’s has provided preliminary sales and operating results estimates for the 2020 first quarter, which include significantly reduced sales, but also some good news from reopened stores.
J.C. Penney Reopening Stores In Texas, Florida, Ohio, Indiana
Today, May 20, J.C. Penney has reopened 34 Texas stores, 12 Florida stores, 11 Ohio stores, and seven Indiana stores bringing the total it has operating to 153 after temporarily closings due to the COVID-19 pandemic.
Kohl’s Takes Big Q1 Coronavirus Hit
In a retail environment roiled by the COVID-19 pandemic, Kohl’s posted a big loss but detailed how it plans on emerging from the challenging time.
J.C. Penney: Company Must Emerge From Chapter 11 Quickly
J.C. Penney stated in a bankruptcy court document that it must emerge from Chapter 11 quickly in preparation for the 2020 holiday season, shortly after announcing that it had received approvals from the U.S. Bankruptcy Court for the Southern District of Texas regarding First Day motions related to the company’s voluntary Chapter 11 petitions, including approval for it to access and use its approximately $500 million in cash collateral.
Belk To Open Remainder Of Stores
As states continue to ease restrictions following lockdowns due to COVID-19, Belk will begin inviting customers and associates back into the remainder of their stores.
J.C. Penney Files For Chapter 11, Plans Store Closures
J.C. Penney has filed for Chapter 11 bankruptcy protection and entered into a restructuring support agreement with lenders holding approximately 70% of its first lien debt in an effort to reduce the company’s outstanding debt and strengthen its financial position.
J.C. Penney Makes Payment As Market Awaits Chapter 11 Move
As many anticipate a chapter 11 bankruptcy announcement, J.C. Penney made an approximately $17 million interest payment that was due and payable on May 7 regarding the company’s senior secured term loan credit facility.