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Penney is adopting a "poison pill" just two days after reporting its sixth straight quarter of big losses and steep revenue declines. The company said Thursday that the one-year shareholder rights plan will prevent any takeover attempts and will
Penney Co Inc on Tuesday reported sales at stores open at least a year fell 11.9 percent in the second quarter, during which it reverted to a promotions-heavy strategy to try to halt a sharp sales decline. The higher level of markdowns and lower-than-
Penney and activist shareholder and former board member Bill Ackman have agreed to a plan for the sale of his 17.7 percent stake in Penney. Ackman can ask Penney to register the sale of some shares up to four times and no more than twice in one year.
Penney Co.'s board as part of a deal to resolve an unusually public battle between the activist investor and the struggling department store operator. The announcement follows statements Ackman made last week saying he'd lost confidence in Penney's
Penney Co.'s board is "flying blind" and needs to oust Chairman Tom Engibous, investor Bill Ackman said in a letter Friday to the U.S. retailer's board. Ackerman is playing fast and loose with the facts and hurting the company, Engibous shot back.
Penney investor urged the company to find a replacement for interim CEO Mike Ullman, and the company's chairman stood by Ullman. Penney's shares jumped about 7 percent on a media report that investor and Penney board member William Ackman is pushing
Penney Co. says it has tapped a Kraft Foods executive as its new marketing chief to help revitalize the struggling brand and reconnect with its shoppers. The Plano, Texas-based chain said Monday it named Debra Berman as senior vice president of
Customers stand outside Macy's store in New York, April 11, 2013...Penney Co should be barred from selling certain home goods designed by celebrity trendsetter Martha Stewart , and Penney and Martha Stewart Living Omnimedia also delivered closing
Penney store at Timber Creek shopping center in Dallas, TX. (DMN Staff Photo Lara Solt) J...Penney Co. said this morning that reports about CIT pulling support to some of its small suppliers are untrue and that it has been told so directly by CIT,
Penney says it has secured a $2.25 billion loan, $500 million more than it had expected. The Plano, Texas-based retailer has been burning through cash and struggling to win back customers. The company last month fired its CEO, Ron Johnson after his