RTW Retailwinds, parent of apparel retailer New York & Co., filed for bankruptcy protection, adding it plans to close most if not all of its nearly 400 stores and seek a buyer for its ecommerce business. The company plans to continue operations, including re-openings where appropriate, paying vendors and suppliers and employees.
JCPenney plans to close 18 full-line stores in the second quarter, including three locations previously announced in January, executives told analysts on an earnings call, recording an estimated pre-tax charge of about $15 million in the process.
Three years after launching the experiment to re-enter the categories, JCPenney is getting out of major appliances, home goods and furniture effective Feb. 28.
JC Penney reported a net loss of $101 million in the second quarter, more than double the 2017 Q2 loss of $48 million, while its comparable sales inched up 0.3%. Here is what JC Penney has planned for the first of 2018.
JCPenney’s CMO, Marci Grebstein spoke with Multichannel Merchant’s sister publication, Chief Marketer on its newly launched multichannel campaign, “Style and Value for All” that aims at the importance of getting it right with women in marketing today. Here is what Grebstein had to say about the new campaign and what means for JCPenney.