The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
NEW YORK, United States — J.C. Penney shares are trading at their lowest level in nearly 13 years as the department stores' woes appear to be worsening.
The Plano, Texas, retailer has struggled for some time with weak sales, a bungled turnaround effort, management changes and board resignations. A number of large shareholders have sold off stakes.
Wednesday's freefall comes as a New York State Supreme Court Judge summoned lawyers for Martha Stewart, J.C. Penney and Macy's Inc. to a hearing, almost two months after the three made closing arguments in a lengthy battle over Penney's partnership with the homemaking maven.
It also follows recent reports that the retailer may run out of cash before the holiday season.
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Shares fell $1.58, or 13.3 percent, to $10.32 at midmorning, after earlier dropping as low as $9.93.
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From analysis of the global fashion and beauty industries to career and personal advice, BoF’s founder and CEO, Imran Amed, will be answering your questions on Sunday, February 18, 2024 during London Fashion Week.
The State of Fashion 2024 breaks down the 10 themes that will define the industry in the year ahead.
Imran Amed reviews the most important fashion stories of the year and shares his predictions on what this means for the industry in 2024.
After three days of inspiring talks, guests closed out BoF’s gathering for big thinkers with a black tie gala followed by an intimate performance from Rita Ora — guest starring Billy Porter.