On Friday, Shares of J. C. Penney Company, Inc. (NYSE:JCP), gained 5.58% to $8.52.
J.C. Penney Company stated a smaller-than-predictable quarterly loss, assisted by demand for home goods and high-end Sephora beauty products, indicating that the department store operator’s turnaround efforts were starting to pay off, according to Reuters.
J.C. Penney has been increasing the number of stores run by popular beauty brand Sephora — owned by luxury giant LVMH (LVMH.PA) — within its stores to attract shoppers. Reuters Reports
J.C. Penney set up more Sephora outlets within its stores following pressure from activist investor Bill Ackman during an ill-fated attempt to go upmarket. Reuters added.
J.C. Penney Company, Inc., through its partner, J. C. Penney Corporation, Inc., sells merchandise through department stores in the United States. The company sells family apparel and footwear, accessories, fine and fashion jewelry, beauty products, and home furnishings, in addition to provides various services, counting styling salon, optical, portrait photography, and custom decorating. As of March 18, 2015, it operated about 1,060 stores.
Shares of Macy’s, Inc. (NYSE:M), inclined 0.60% to $63.36, during its last trading session.
Macy’s and Tishman Speyer declared they have signed a real estate purchase and sale agreement that will enable a re-creation of Macy’s Brooklyn store and further enliven one of New York City’s most dynamic, transit-rich neighborhoods.
Under the agreement, Macy’s will continue to own and operate the first four floors and lower level of its existing nine-story Fulton Street retail store, which will be reconfigured and remodeled. Tishman Speyer will purchase the portion of the site that Macy’s will not retain, which it will develop into about ten floors of distinct, first-class office space with appeal to a wide range of diverse companies. In addition, Tishman Speyer has agreed to purchase Macy’s Hoyt Street parking facility, which could be used for a future mixed-use development.
Macy’s will receive $170 million in cash from Tishman Speyer for its Brooklyn real estate assets and will receive an additional $100 million over the next three years that will be used as a contribution toward renovation of the Brooklyn Macy’s store.
Macy’s, Inc., together with its auxiliaries, operates stores and Internet Websites in the United States. Its stores and Websites sell a range of merchandise, counting apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods.
Finally, Michael Kors Holdings Limited (NYSE:KORS), ended its last trade with -0.55% loss, and closed at $43.37.
Michael Kors Holdings declared that Daisuke Yamazaki has been named President of Japan, following the retirement of Toshi Tashiro. Mr. Yamazaki will report to Stephane Lafay, the Company’s President of Asia. Mr. Yamazaki’s appointment is effective August 10, 2015, and Mr. Tashiro will stay on through the end of 2015 in order to ensure a smooth transition of responsibilities.
Mr. Yamazaki most recently served as CEO of Roberto Cavalli Japan. Formerly, he was the CEO of the Alexander McQueen Division, at Gucci Japan Limited. Preceding to that he spent 15 years at Giorgio Armani Japan, where he held a variety of positions, counting heading sales and merchandising for both the women’s and men’s lines.
Michael Kors Holdings Limited engages in the design, marketing, distribution, and retailing of branded women’s apparel and accessories, and men’s apparel. The company operates in three segments: Retail, Wholesale, and Licensing.
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