November 9, 2012
In this Tuesday, June 19, 2012 file photo, shoppers walk in a J.C. Penney story in Plano, Texas.
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J.C. Penney is opening its doors on Thanksgiving evening to kick off the holiday shopping season, as the beleaguered retailer hopes to get back in the game for the crucial selling period.
J.C. Penney Co. plans to sell up to 96.6 million shares of common stock in a public offering, evidence the chain is looking to shore up its cash reserves ahead of what is expected to be a fiercely competitive holiday shopping season.
Struggling retailer J.C. Penney is adopting a plan to prevent a takeover attempt just two days after reporting its sixth straight quarter of big losses and steep revenue declines.
J.C. Penney Co. is hoping it has hit rock bottom.
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