Ellison’s home improvement at Lowe’s is paying off
Lowe's blew past second quarter profit expectations, buoyed by strong demand for spring goods and sales to contractors.
Even though the home improvement retailer wrestled with lower lumber...
CHARLOTTE, N.C. (AP) — Lowe's has selected Charlotte, North Carolina, to house a 2,000-employee global tech hub. The city hopes the project will cement its reputation as a home for technological...
Lowe’s wants documents in ex-executive’s bias case sealed
CHARLOTTE, N.C. (AP) — Lowe's Cos. is seeking to keep secret some of its documents in a discrimination case filed by an African-American ex-executive who says the home improvement chain unfairly fired him.
Lowe’s reports disappointing sales; to exit Mexico
NEW YORK (AP) — Lowe's Cos. reported disappointing numbers for a key sales measure in the third quarter and said it would exit its Mexico operations in its bid to compete better with home improvement leader Home Depot.
The home improvement chain said Tuesday it would also exit its contracting service, Alacrity Renovation Services, and its Iris Smart Home businesses in the U.S.
J.C. Penney names former Jo-Ann’s Stores exec as CEO
NEW YORK (AP) — J.C. Penney is counting on a former CEO of the nation's largest fabric and crafts chain to inject some energy into the struggling department store chain.
The retailer on Tuesday named Jill Soltau, who had been the president and CEO of Jo-Ann Stores since March 2015, to be its next CEO, effective mid-October.
Clouds clear, and Lowe’s delivers strong second quarter
NEW YORK (AP) — Lowe's rebounded in the second quarter after dismal weather cut into projects at home — and into company profits — to start the year. Investors also shrugged off a more guarded outlook as the home-improvement retailer shifts direction under new CEO Marvin Ellison.
Penney posts bigger-than-expected loss, cuts outlook
NEW YORK (AP) — J.C. Penney reported a bigger-than-expected loss in its fiscal second quarter as a key sales metric fell well short of Wall Street's view. The department store operator also cut its full-year forecast again, and its shares plunged 24 percent.
NEW YORK (AP) — Stocks that moved substantially or traded heavily Tuesday:
J.C. Penney Co., down 15 cents to $2.35
The department store said Chairman and CEO Marvin Ellison is leaving to become CEO of Lowe's.
Adobe Systems Inc., up 69 cents to $238.79
The software maker is buying Magento Commerce and repurchasing more stock.
Tata Motors Ltd., up 88 cents to $22.91
China's Finance Ministry said it will reduce duties on imported cars.
J.C. Penney CEO Ellison departs for Lowe’s
NEW YORK (AP) — J.C. Penney CEO Marvin Ellison, a former Home Depot executive, is leaving the department store chain after less than four years to become the top executive at Lowe's.
The announcement Tuesday, just days after J.C. Penney released disappointing results, sent its shares down more than 3 percent.
MOORESVILLE, N.C. (AP) — J.C. Penney's CEO is leaving the company to become the top executive at Lowe's.
The announced departure of Marvin Ellison on Tuesday sent shares of the besieged department store tumbling more than 12 percent to what may become an all-time low.
Shares of Lowe's Cos., which has struggled to keep pace with rival Home Depot, are up more than 4 percent. Ellison spent 12 years at Home Depot Inc. before he joined J.C. Penney.
JC Penney outlook spooks Wall Street
NEW YORK (AP) — J.C. Penney blamed weak clothing sales on bad spring weather and said it would offer more plus-size fashions to try to boost sales.
The company also cut its earnings outlook for the year and its stock tumbled 12 percent Thursday.
J.C. Penney is the bright spot for retail this week
NEW YORK — J.C. Penney delivered some encouraging news: It reported a solid rise in sales at established stores Friday, reversing four straight quarters of declines. It also posted a smaller-than-expected loss for the third quarter, all news that sent its shares soaring.
JC Penney is the bright spot for retail this week
NEW YORK (AP) — J.C. Penney delivered some encouraging news: It reported a solid rise in sales at established stores Friday, reversing four straight quarters of declines. It also posted a smaller-than-expected loss for the third quarter, all news that sent its shares soaring.
J.C. Penney joins fellow department stores in retail malaise
Welcome to the club, J.C. Penney Co.
The company joined department-store rivals such as Macy’s Inc. and Kohl’s Corp. in reporting disappointing sales for the first quarter, sending its shares down as much as 11 percent Friday.
J.C. Penney will close 130 to 140 stores and become the latest major retailer to announce store closures in order to remain profitable and “compete against the growing threat of online retailers,” the company’s CEO said Friday.
J.C. Penney said it would reveal which stores were closing in mid-March after affected employees were notified. The impacted stores are expected to close in the second quarter of 2017. It will also close two distribution facilities.
J.C. Penney to shut 130-plus stores, offer early retirements
NEW YORK (AP) — J.C. Penney is joining its department store rivals in pruning its store numbers in an era of online shopping.
Penney said Friday that it will close 130 to 140 stores as well as two distribution centers over the next several months as it tries to improve profitability. The company said that it would also initiate a voluntary early retirement program for about 6,000 eligible employees.
Penney’s reports 3Q sales shortfall, cuts outlook
J.C. Penney cut its sales outlook for the year after reporting a surprise decline in a key sales figure for the third quarter as it wrestled with sluggish clothing sales.
The report is a setback for Penney, whose business has been volatile, bouncing back in the summer after a tough start to the year.
Nonetheless, shares rose in afternoon trading Friday after dropping as much as 10 percent in premarket dealings.
- The News-TimesRetailer to close 18 department stores in 2019February 28, 2019
- Daily ChronicleDeKalb Lowe's to stay open amid news of nationwide closuresNovember 16, 2018
- Wisconsin State JournalWisconsin native named CEO of J.C. PenneyNovember 3, 2018
- Cleveland.comJoAnn Stores seeks new CEO as Jill Soltau leaves for J.C. PenneyOctober 3, 2018
Pennsylvania man killed when jack fails, car lands on him
EMMAUS, Pa. (AP) — A coroner says a Pennsylvania man died when a car jack failed and a vehicle rolled onto him.
The Lehigh County coroner says the dead man is 59-year-old Marvin Ellison Jr.
He was killed Monday morning while working on the car in the driveway of his home in Upper Saucon Township. The coroner ruled that Ellison died because he couldn't breathe.