De Beers Makes Sweeping Cuts to Its Elite Diamond-Buying Club
The diamond company produced less than 22 million carats last year, down from almost 35 million in 2022.
Plano, United States
Retail
J.C. Penney Rescue Deal Approved in Bankruptcy Court
The move will avert a liquidation that would have put the department store chain out of business and jeopardised tens of thousands of jobs.
J.C. Penney Rescue Deal Approved in Bankruptcy Court
The move will avert a liquidation that would have put the department store chain out of business and jeopardised tens of thousands of jobs.
Retail
CBL Files for Chapter 11 Bankruptcy Protection
The process will give the mall operator a chance to continue functioning while reorganising its finances and business.
CBL Files for Chapter 11 Bankruptcy Protection
The process will give the mall operator a chance to continue functioning while reorganising its finances and business.
Retail
J.C. Penney Posts Steep Sales Decline for Second Quarter
The American retailer reported sales of $1.39 billion in the period ended August 1, down from $2.51 billion a year earlier.
J.C. Penney Posts Steep Sales Decline for Second Quarter
The American retailer reported sales of $1.39 billion in the period ended August 1, down from $2.51 billion a year earlier.
Retail
J. C. Penney Shareholders at Risk of Wipeout Want Voice in Court
The group argues a liquidation would generate more than $8.4 billion, enough to pay off all creditors with some left over for shareholders.
J. C. Penney Shareholders at Risk of Wipeout Want Voice in Court
The group argues a liquidation would generate more than $8.4 billion, enough to pay off all creditors with some left over for shareholders.
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Retail
J.C. Penney Post-Bankruptcy Plan Includes Closing 29% of Stores
The retailer, which recently filed for Chapter 11 bankruptcy, expects net sales of $7.5 billion with its smaller fleet of 604 stores.
J.C. Penney Post-Bankruptcy Plan Includes Closing 29% of Stores
The retailer, which recently filed for Chapter 11 bankruptcy, expects net sales of $7.5 billion with its smaller fleet of 604 stores.
Financial Markets
J.C. Penney Files for Bankruptcy Protection
The U.S. department store chain said it reached an agreement with existing lenders for $900 million of financing to aid operations while it navigates bankruptcy proceedings in federal court.
J.C. Penney Files for Bankruptcy Protection
The U.S. department store chain said it reached an agreement with existing lenders for $900 million of financing to aid operations while it navigates bankruptcy proceedings in federal court.
Retail
Report: J.C. Penney to Prep for Debt Talks Ahead of Holiday Season
The department-store chain is said to be exploring ways to ease its debt burden and give breathing room for the CEO, who has been under pressure to turn the company around.
Report: J.C. Penney to Prep for Debt Talks Ahead of Holiday Season
The department-store chain is said to be exploring ways to ease its debt burden and give breathing room for the CEO, who has been under pressure to turn the company around.
News & Analysis
J.C. Penney Logs Disappointing Sales But CEO Says Change Is Coming
Despite a 9 percent fall in same-store sales in the latest quarter, the department store chain's chief executive foresees a sales turnaround.
J.C. Penney Logs Disappointing Sales But CEO Says Change Is Coming
Despite a 9 percent fall in same-store sales in the latest quarter, the department store chain's chief executive foresees a sales turnaround.
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News & Analysis
Report: J.C. Penney Taps Debt Restructuring Advisers
The retailer is making a high-stakes attempt to get its finances in order before its debt of about $4 billion comes due, according to sources familiar with the matter.
Report: J.C. Penney Taps Debt Restructuring Advisers
The retailer is making a high-stakes attempt to get its finances in order before its debt of about $4 billion comes due, according to sources familiar with the matter.
News & Analysis
Retailers J.C.Penney, Macy's Oppose Proposed Tariffs on Apparel and Footwear
The retail companies warn the US President's tariff proposal could have negative impacts on their sales.
Retailers J.C.Penney, Macy's Oppose Proposed Tariffs on Apparel and Footwear
The retail companies warn the US President's tariff proposal could have negative impacts on their sales.
Retail
J.C. Penney Posts Worse-Than-Expected Drop in Sales
As one of the oldest names in American retail, J.C. Penney has in recent years struggled to compete with fast-fashion brands and online shopping.
J.C. Penney Posts Worse-Than-Expected Drop in Sales
As one of the oldest names in American retail, J.C. Penney has in recent years struggled to compete with fast-fashion brands and online shopping.
Retail
J.C. Penney Rises as Wall Street Buys Into Turnaround Strategy
The retailer surged 25 percent as it revealed plans to close 15 more locations and announced a trio of new executives.
J.C. Penney Rises as Wall Street Buys Into Turnaround Strategy
The retailer surged 25 percent as it revealed plans to close 15 more locations and announced a trio of new executives.
The News in Brief
L’Oréal India in Talks to Acquire Beauty Company Innovist
L’Oréal is in advanced talks to acquire a majority stake in Bare Anatomy parent Innovist sources told The Economic Times India.
Zegna Chairman Says War Has Clouded Visibility of Demand in Middle East
The Italian fashion house cautioned the war is reducing visibility on demand in the Middle East, which accounts for 7 percent of its sales, though all stores are currently open in the region.
Glossier Appoints New CMO
Nicole Solorzano, who joins from Ouai, is the Millennial beauty brand’s latest hire.
Macy’s CEO Points to E-Shaped Economy, Signalling Consumer Shift
The mention of a forked economy by the head of America’s largest department store signals a heightened wariness that middle-income Americans will continue to spend at the same pace.
France’s Bid to Suspend Shein’s Marketplace Rejected by Appeals Court
The decision from Paris’ Court of Appeal marked a win for the fast-fashion giant after a scandal over sex dolls resembling children for sale on its site.
Coty Announces Board Revamp
The embattled Covergirl owner has appointed five new independent directors amidst a wider leadership and company shakeup.
Zimmermann Names Roberto Eggs CEO
The Moncler Group executive will succeed longtime CEO Chris Olliver, who is staying on as executive chairman.