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Penney Sued For Allegedly Breaking Contract With 'Square' Designer

By Karen Talley Of DOW JONES NEWSWIRES NEW YORK -(Dow Jones)- J.C. Penney Co. (JCP) is being sued by a lighting design firm that alleges the retailer reneged on an agreement to build the new lighted-square frames that grace the retailer's entrances. Hudson & Broad of New York alleges that Penney contracted the firm to design and make the squares but, after only a limited amount were manufactured, Penney told Hudson & Broad it no longer needed its services. The suit, which was filed Wednesday, alleges breach of contract and misappropriation of trade secrets. It was filed in U.S. District Court for the Southern District of New York and seeks $40 million in compensatory and punitive damages. A J.C. Penney spokeswoman didn't immediately respond to a request for comment. "I clarified several times with Penney that what we were doing was proprietary," said James Maharg, president of Hudson & Broad. The squares are part of the cosmetic changes being made by Penney, which envisions multiple stores-within-stores at its locations, a mock town square in the center and generally improved looks at the locations. The illuminated squares, among other measures, are meant to represent its new strategy of offering "fair and square" deals. The changes, which also include no longer offering coupons and very little discounting, are coming under former Apple Inc. (APPL) retail chief Ron Johnson, who became chief executive in November. -By Karen Talley, Dow Jones Newswires; 212-416-2196; karen.talley@dowjones.com

Stock News for Jc Penney (JCP)
DateTimeHeadline
02/09/201619:50:00Burberry Sues J.C. Penney Over Alleged Knockoffs
02/09/201614:20:31Amended Statement of Ownership (sc 13g/a)
02/09/201612:29:41Statement of Ownership (sc 13g)
02/08/201608:30:16JCPENNEY ENTICES MILLENNIALS WITH LAUNCH OF BELLE + SKY(TM)
02/05/201609:20:00J.C. Penney Exploring Sale of Texas Headquarters
02/05/201609:07:00J.C. Penney Exploring Sale of Texas Headquarters
02/05/201608:00:38JCPENNEY PURSUES SALE OF HOME OFFICE CAMPUS
02/03/201617:02:51Statement of Changes in Beneficial Ownership (4)
01/26/201616:42:20Amended Statement of Ownership (sc 13g/a)
01/20/201617:56:58Statement of Changes in Beneficial Ownership (4)
01/19/201619:52:00J.C. Penney to Sell Appliances Again -- Update
01/19/201617:20:00Home Depot Replaces Head of U.S. Stores Business
01/19/201611:00:00J.C. Penney To Sell Appliances Again
01/19/201609:00:08JCPENNEY EMBARKS ON A RETURN TO APPLIANCES
01/18/201619:50:00Penney Names Former Home Depot Executive as Head of Stores
01/18/201616:30:19JCPENNEY APPOINTS JOE MCFARLAND AS EXECUTIVE VICE PRESIDENT OF...
01/15/201617:06:37Current Report Filing (8-k)
01/07/201615:30:00Retailers' Sales Results Ease Some Concerns About Holiday Season
01/07/201615:03:00Retailers' Sales Results Ease Some Concerns About Holiday Season
01/07/201608:30:00JC Penney Reports 3.9% Rise in Sales

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