Word: penney
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...store within a store--one of five Sephoras opened in a Penney in October--is part of the new face of a century-old retailer and the $18.8 billion company's strategy to attract younger, more affluent female customers. Come March, 10 more Sephoras will open, followed by nine more in June. "It's a brilliant move," says Citigroup analyst Deborah Weinswig. "It has a halo effect on the whole store...
...Penney and Kohl's aren't just hanging holiday tinsel to get customers to fill up their Christmas stockings. By adding exclusive-to-them designer labels and partnering with upscale sellers, they are redeveloping the middle market, a segment once thought lost forever in the crush between the high and low end. "Both JCPenney and Kohl's have come to understand what their shoppers expect: great prices every day, ease of shopping and an exciting store," says Wendy Liebmann, founder of WSL Strategic Retail, a consultancy that publishes quarterly surveys on how Americans shop. "They're working hard to address...
...Penney and Kohl's, even with all their fine-tuning, stand to have a relatively merry Christmas. Indeed, sales at Kohl's stores that have been open at least a year--a key industry measurement--rose 3.7%. JCPenney reported a somewhat disappointing 1.4% increase (Wall Street was hoping for 3.7%), but its online sales rose 17.5% in November. And the portent for more good things to come is evident. Consider the results for the third quarter: Penney, which only a few years ago was in deep trouble, reported a 22.6% increase in net income, while Kohl's racked...
...Penney and Kohl's are taking advantage of the middle opportunity. "They're cannibalizing the market from beneath them, and they're benefiting from the trickle down from traditional department stores who are trading out of Middle America," says David Wolfe, a fashion-retail consultant for the Doneger Group in New York City. "They're getting it coming and going...
...they're expecting more. For starters, both companies are aggressively expanding and experimenting with new formats. Kohl's opened 65 stores in October on a single day, the biggest one-day opening in the company's history. Penney, based in Plano, Texas, opened 20 stores that same month, most in off-mall locales. Both companies have plans for a lot more: Penney, which operates 1,037 stores, has announced that it will open 50 stores annually through 2008, while the 817-store Kohl's intends to tack on 400 stores to the chain by 2010, some inside urban malls...