On Tuesday, Shares of J. C. Penney Company, Inc. (NYSE:JCP), lost -1.01% to $6.84.
Leadership and business strategy shakeups inside J.C. Penney Co. Inc. (NYSE: JCP) in 2015 might lead to the company’s best year since 2011, according to Business Journals.
Perhaps the Plano retailer’s biggest change this year was a leadership transition from former CEO Mike Ullman to current top executive Marvin Ellison, who took over the position in August. Ellison joined J.C. Penney in November 2014 as CEO designee before taking over the top spot.
Since taking over, Ellison has worked to shift the retailer’s sales strategy. While the company operates 1,020 department stores, Ellison is diversifying beyond brick and mortar, emphasizing omnichannel, which refers to a customer’s ability to buy a company’s products by multiple methods, counting online and in stores.
Some of Ellison’s omnichannel initiatives comprise selling Sephora cosmetics on jcp.com and enhancing the the website’s functionality for users. The company also launched an Apple Watch app in March. Business Journals Reports
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 ConocoPhillips (NYSE:COP), inclined 1.23% to $47.77, during its last trading session, with rising oil prices as investors anticipate chillier weather in the coming weeks.
Harsh weather in parts of the U.S. south and midwest has affected shipments, Reuters reports.
However, Wall Street analysts continue to be bearish as they expect global demand to slow down in 2016.
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas, and natural gas liquids worldwide. Its portfolio comprises shale and oil sands assets; lower-risk legacy assets in North America, Europe, Asia, and Australia; various international developments; and exploration prospects. ConocoPhillips was founded in 1917 and is headquartered in Houston, Texas.
Finally, Apollo Investment Corporation (NASDAQ:AINV), ended its last trade with 0.29% gain, and closed at $5.23.
December 14, 2015 - Apollo Investment Corporation declared that since adopting a stock repurchase plan in August 2015, the Company has repurchased $50 million of its common stock, which represents the full amount authorized by the Board of Directors under the plan.
The Company also declared that its Board of Directors has approved a new stock repurchase plan (the “Repurchase Plan”) to acquire up to $50 million of the Company’s common stock, in accordance with applicable rules specified in the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Under the Repurchase Plan, the Company may, but is not obligated to, repurchase its outstanding common stock in the open market from time to time offered that the Company complies with the prohibitions under its insider trading policies and the requirements of Rule 10b-18 of the Exchange Act, counting certain price, market volume and timing constraints. The Company intends to allocate a portion of the authorized amount under the Repurchase Plan to be repurchased in accordance with Rule 10b5-1 of the Exchange Act (the “10b5-1 Plan”). The Repurchase Plan and the 10b5-1 Plan are designed to allow the Company to repurchase its shares both during its open window periods and at times when it otherwise might be prevented from doing so under applicable insider trading laws or because of self-imposed trading blackout periods. The Repurchase Plan does not have an expiration date and may continue to be modified or suspended at any time.
Apollo Investment Corporation (AINV) is a closed-end investment company that has elected to be treated as a business development company under the Investment Company Act of 1940. The Company invests primarily in various forms of debt investments, counting secured and unsecured debt, loan investments, and/or equity in private middle-market companies.
