Article Abstract:
Moody's Investor Service has downgraded JC Penney's long-term and short- term credit rating to junk status due to the retail chain's poor performance and that of its Eckerd drug chain subsidiary. Moody's said Penney's recovery would be hampered by a very competitive market and the general economic weakness currently prevailing in the US. The downgrade will make it more difficult for JC Penney to borrow money. Penney closed 45 stores in 2000, and would close another 47 stores and catalog centers in 2001.
User Contributions:
Comment about this article or add new information about this topic:
Article Abstract:
The no-call list has completed one year of successful implementation, and Eileen Harrington, associate director of marketing practice at the Federal Trade Commission's bureau of consumer protection, is pleased with the results. She was one of the key members behind the launch of the national no-call registry. In future there shall be complete compliance and enforcement on the part of the industry with respect to no-call list.
User Contributions:
Comment about this article or add new information about this topic:
Article Abstract:
JC Penney Co has appointed John Irving to be its senior vice president and president of catalog and Internet. The appointment comes more than two months after Irving resigned as president and CEO of Spiegel Catalog Inc. At Spiegel, he was replaced by Melissa Payner who was previously senior vice president of merchandising and advertising creative with the company. Irving departed from Spiegel to pursue other interests.
User Contributions:
Comment about this article or add new information about this topic: