Santa Claus snorts "quality, Grade A, Colombian snow," said the ad copy. Boy, what a way to shatter the beliefs of little children at Christmastime!
Walmart Canada pulls Christmas sweaters featuring Santa with cocaine
https://globalnews.ca/news/6267927/w...aters-cocaine/
Sears, Kmart, JCPenney, Kohl's, Macy's and Victoria's Secret continue to see declines in sales. The demise of Sears and Kmart has long been expected and now some analysts are beginning to think JCPenney will eventually go out of business. Fifty years there were more than 2,000 JCPenney stores. Now there are only 865.
America has turned its back on big department stores
https://www.cnn.com/2020/01/09/busin...res/index.html
Ten years ago, there were 1,106 JCPenney stores. This year, the number will drop to 840. Ten years ago, Sears had more than 3,500 stores; now there are only 540. At its peak in 1994, Kmart operated 2,486 stores; now there are fewer than 100. And of course the number of Mervyns, Montgomery Ward, Kinney Shoes, Thom McAn, Gottschalks, Gymboree, Gimbels, May Co., Linens 'n' Things, American Apparel, Fashion Bug, Payless Shoes and Circuit City stores still in business is zero.
JCPenney to close six stores and a call center
https://www.dallasnews.com/business/...a-call-center/
The Sears in North Hollywood will close on February 2 and the Sears in Glendale will close on March 15. There is also a Sears in Los Angeles that is closing.
That Sears store in Glendale looks the same as it did in the 1970s. Very few young people shop there. It's outdated and old-fashioned. It's also the city's ugliest building, a huge rectangular monstrosity with no windows. I won't miss it. Macy's is doing better than Sears – but not by much:
Macy's to close 125 stores, cut 2,000 corporate jobs
https://www.cnbc.com/2020/02/04/macy...rate-jobs.html
In the 1986 movie The Money Pit, a remake of the 1948 film Mr. Blandings Builds His Dream House, a husband and wife spend a fortune trying to renovate a mansion that keeps falling apart. Eddie Lampert and hedge fund managers continuing to provide hundreds of millions of dollars in financing to keep Sears from going out of business is pretty much the same concept. The only real difference is that, in each movie, a new house was constructed. Sears is slowly dying.
Sears snags a new $100 million financial lifeline as losses continue
https://www.reuters.com/article/us-s...-idUSKBN20E2RC
James Cash Penney opened his first store in 1902 in Kemmerer, Wyoming. In 1970, there were more than 2,000 JCPenney stores. By the end of next year, there will be fewer than 600.
JCPenney is doing even worse than we thought
CNN, Jun 30 2020 12:17 PM
JCPenney's financial situation in the months leading up to its May 15 bankruptcy filing was much worse than originally thought. The company today reported an operating loss of $477 million in the three months ending May 2. That's much larger than the $93 million operating loss in the same period a year earlier and 40% more than the company warned investors it expected to report just three weeks ago, when it released preliminary results. The company expects to stay in business but its ability to survive the bankruptcy process partly depends on whether it can limit losses and conserve cash.
https://www.cnn.com/2020/06/30/busin...tcy/index.html
JCPenney's sales and income continue to decline. Shares of JCPenney closed today at 20¢ – one cent higher than shares of Sears/Kmart.
JCPenney says it hopes to exit bankruptcy by Christmas
CBS News, Oct 21 2020 3:09 PM
JCPenney believes it will emerge from Chapter 11 bankruptcy proceedings before Christmas, under a proposed ownership agreement that would save tens of thousands of jobs. The beleaguered, century-old retailer said today it has filed a draft purchase agreement with the nation's two biggest mall owners. Substantially all of JC Penney's retail and operating assets will be acquired by Brookfield Asset Management and Simon Property Group through a combination of cash and new loan debt. The $800,000 million deal, which goes before a bankruptcy judge in Texas on Monday, will save roughly 70,000 jobs and avert a total liquidation.
https://www.cbsnews.com/news/jcpenne...xit-christmas/
Since filing for bankruptcy in May, JCPenney has closed 150 stores and laid off 25,000 employees – and the company still is likely to eventually go out of business.
As JCPenney exits bankruptcy, its long-term outlook remains grim
https://www.cnn.com/2020/11/30/busin...ook/index.html
JCPenney has not posted an annual profit since 2010. Shares of JCPenney closed today at 15¢ – but, hey, that's one cent better than yesterday!
JCPenney CEO Jill Soltau is out after two years of failure
https://www.cnn.com/2020/12/30/inves...tau/index.html
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