Struggling department store chain J.C. Penney, facing debt payments of approximately $4 billion over the next few years, has reportedly hired advisors to examine debt restructuring options.
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J.C. Penney’s global in-house center in Bangalore, India, has received a Platinum LEED, or Leadership in Energy and Environmental Design, rating by the U.S. Green Business Council (USGBC).
In a preliminary update on the holiday season, J.C. Penney revealed that its comparable store sales declined. The department store retailer also said it would close three stores and signaled that more store closings could be on the way as it reviews its strategies and store portfolio.
It was another tough quarter for J.C. Penney as sales for the three month period ended November 3 were down more than 5%.
J.C. Penney is introducing a new private label brand, Peyton & Parker, developed to help moms create effortless yet coordinated styles for family and home.
Furniture will be a key product category in J.C. Penney’s expanding baby product selection that will roll out to 500 stores.
Lowe’s has named Marvin Ellison president and CEO, effective July 2. He will also join Lowe’s board of directors at that time. Ellison succeeds Robert Niblock, who previously announced his intention to retire.