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Penney sales tumble again, amid hopeful signs

J.C. Penney Co Inc on Tuesday reported another quarter of steep sales declines, hit by the lingering effects of its former chief executive's failed marketing strategy.But Wall Street brushed off the news after the company, which last month brought back ex-CEO Myron Ullman to turn around its operations, reported cash levels that implied the department store chain had gone through less money than feared. Vendors and analysts expect sales to improve later this year.Shares rose 1.6 percent to $16.66 in after-hours trading.Penney, coming off a 25 percent sales plunge in 2012 largely blamed on former CEO Ron Johnson's strategy of eliminating coupons and sales in favor of everyday lower prices, reported that same-store sales, or sales at stores open at least a year, fell 16.6 percent in the first quarter.Analysts were expecting a drop of 13.2 percent, according to Thomson Reuters I/B/E/S.Johnson was ousted last month and Ullman, whom he replaced in late 2011, has increased the pace of sales i...

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  1. Consumers boost growth despite business caution

    Economic growth accelerated in the third quarter as stepped-up purchases by consumers and a surprise turnaround in government spending offset the first cutback in bu...

  2. U.S. consumers boost growth despite business caution

    U.S. economic growth picked up in the third quarter as a late burst in consumer spending and a surprise turnaround in government outlays offset the first cutback in ...

  3. Wall Street steady as data offsets earnings

    Stocks were little changed on Friday, after data showed the economy grew at a faster pace than expected, overshadowing recent concerns about a disappointing earnings...

  4. Newell Rubbermaid to Slash 10% of Workforce

    Newell Rubbermaid (NYSE:NWL) is cutting about 2,000 jobs, or 10% of its workforce, over the next 2 1/2 years in an effort to save between $180 million and $225 milli...

  5. US STOCKS-Wall Street steady as GDP data offsets earnings worry

    Stocks were little changed on Friday, after data showed the economy grew at a faster pace than expected, overshadowing recent concerns about a disappointing earnings...

  6. Wall Street to open steady after GDP beats expectations

    Stock index futures pointed to a steady open on Friday, after data showed the economy grew at a faster pace than expected, overshadowing recent concerns about a disa...

  7. Newell to cut jobs, shake up exec suite, raise dividend

    Consumer products maker Newell Rubbermaid Inc said it will cut about 2,000 jobs, or slightly more than 10 percent of its staff, over the next 2-1/2 years, joining a ...

  8. Newell Rubbermaid Ups Dividend; Sets Staff Cut

    Newell Rubbermaid's third-quarter earnings drew praise on Friday from analyst SunTrust Robinson Humphrey analyst William Chappell, who said the company's results wer...

  9. Stock futures drop as Apple, Amazon results disappoint; GDP eyed

    U.S. stock index futures fell on Friday after technology giants Apple and Amazon.com reported lackluster earnings and outlooks, in line with a recent ream of cautiou...

  10. Sock futures fall after Apple, Amazon results; GDP eyed

    Stock index futures fell on Friday after technology giants Apple and Amazon.com reported lackluster earnings and outlooks, and ahead of economic growth data.* Apple ...

  11. Newell to cut jobs, shake up executive suite, raise dividend

    Consumer products maker Newell Rubbermaid Inc said it would cut about 2,000 jobs or slightly more than 10 percent of its staff, over the next 2 1/2 years, joining a ...

  12. Newell Rubbermaid Names New CFO

    Newell Rubbermaid (NYSE:NWL) has promoted Doug Martin to chief financial officer, succeeding Juan Figuereo, who has led the finance department since 2009.The Atlanta...

  1. Newell Rubbermaid to Sell Teaching, Hardware Units

    Newell Rubbermaid Inc. (NWL) said it intends to sell its hardware and teaching aid units, as first-quarter profit tumbled 32% on charges, although core earnings impr...

  2. It's Make It or Break It for J.C. Penney CEO

    It's crunch time for J.C. Penney Co Inc Chief Executive Ron Johnson.The struggling department store chain is poised to open the first of its new home goods boutiques...

  3. Towels, spicy carrots at front of latest consumer products push

    With the economic recovery struggling to take hold, household goods companies are betting consumers will pay for the latest versions of paper products, shampoo and b...

  4. Newell Rubbermaid's 4Q Profit Tops Expectations

    Newell Rubbermaid (NYSE:NWL) reported better-than-expected fourth-quarter earnings on Friday, fueled by success of core brands in emerging markets like Latin America...

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    Brian Angerame, Clearbridge Advisors portfolio manager, on new housing starts and why he believes a housing recovery is underway.

  6. Stocks Getting a Boost from Sandy

    FBN’s Nicole Petallides with a market update after the closing bell.

  7. Consumers drive growth as businesses hold back

    Economic growth accelerated in the third quarter as a last minute spurt in consumer spending and a surprise turnaround in government outlays offset the first cutback...

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