ADVFN - Advanced Financial Network.
HOME» NYSE » M » M Stock Price » M Stock News

Macys Share News

 Macys Stock Price
M Stock Price
 Macys Stock Chart
M Stock Chart
 Macys Stock News
M Stock News
 Macys Company Information
M Company Information
 Macys Stock Trades
M Stock Trades

JC Penney Sees Adding More Stores in Metro Areas

--J.C. Penney sees itself eventually opening more stores in large areas --Company will return to using the word "sale" --Martha Stewart has created 3,000 items for Penney to sell, Penney CEO says J.C. Penney Co. (JCP) sees itself ultimately adding more stores in bigger metropolitan areas to become more competitive with rivals Macy's Inc. (M) and Kohl's Corp. (KSS), which already are well-stored in these parts of the U.S. Penney would like to "add more stores in big" areas, Chief Executive Ron Johnson said at an industry conference. "When we get content correct, we think we can become a growth vehicle." Mr. Johnson sees more sophisticated merchandise serving these regions and said the company, because its is largely no longer promotions oriented, can attract key merchandise. Mr. Johnson acknowledged Penney still has a long way to go to get existing operations humming. "We like where we are headed," he said. But "we haven't communicated the pricing change in a way customers understand yet." To that end, Penney is going from using the phrasing month-long "values," which confused customers, to month-long "sales," Johnson said. "What we intend to do is a sale; we run 12 a year," Johnson said. "That's a messaging change within our vision for how we want to compete." Johnson also said that Martha Stewart Living Omnimedia Inc. (MSO) has already created 3,000 items for the retailer to sell in one of its planned stores within a store. The arrangement with Penney is somewhat controversial: Macy's claims to have exclusive selling rights to this type of Martha Stewart product, but Penney struck a deal that is set to begin in Febuary. Macy's has taken Martha Stewart Living to court over the arrangement. J.C. Penney has gone from being extremely promotional under its former executives to a three-pronged approach under Mr. Johnson, the former retail chief at Apple Inc. (AAPL) who joined Penney in November. The three-level plan does away with scores of sales events in favor of more-stable pricing. The approach involves everyday prices, sales that last a month, and certain merchandise marked for clearance the first and third Friday of each month and kept at promotional levels until sold. But in the first quarter that Mr. Johnson's strategy was in place, Penney generated a huge loss, raising questions about whether the transformation will work. For the quarter ended April 28, Penney reported a loss of $163 million, or 75 cents a share, compared with a year-earlier profit of $64 million, or 28 cents a share. Total sales declined 20% to $3.15 billion. J.C Penney was recently down 3.6% at $24.35. Write to Karen Talley at

Stock News for Macys (M)
11/28/201510:30:38Will Deep Holiday Discounts Hurt Profit Margins at Macy's and...
11/27/201513:00:03Where Will J.C. Penney Company Inc Be in 10 Years?
11/26/201513:00:04Everything Shoppers Need to Know for Black Friday
11/25/201513:35:03Will Retailers Be Punished for Opening on Thanksgiving Day?
11/25/201512:05:033 Retailers That Should Be Very Worried This Christmas
11/25/201511:10:00U.S. Consumer Sentiment Slips
11/25/201509:00:00Just a Click Away: Incredible Cyber Monday Deals on
11/25/201508:29:03What Lies Ahead for Kohl's Corporation This Holiday Season?
11/24/201520:51:00Some Malls Pressure Retailers to Open on Thanksgiving
11/24/201514:05:03Why Kohl's Is the Department-Store Stock to Buy This Holiday...
11/23/201513:30:03Here's Why TJX Is Crushing the Competition
11/20/201518:00:105 Key Things J.C. Penney Needs You to Know
11/20/201514:33:17Why Shares of Ross Stores Inc. Surged on Friday
11/20/201507:45:02How Magic Plays Into the Macy's Inc. Turnaround Plan
11/19/201518:04:00Macy’s Honored for Diversity of Board of Directors
11/19/201510:00:00Macy’s Stars Shine in Black Friday Commercial
11/19/201508:30:023 Trends That Will Change the Face of the Retail Industry
11/18/201519:00:03Go Small or Go Home? Retailers Turning to Downsized Stores for...
11/18/201517:30:02Don't Discount Macy's Inc.'s Inventory Problems
11/18/201515:38:31Initial Statement of Beneficial Ownership (3)

Macys and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations