Kyle Bass Discloses 5.2% Stake in J.C. Penney (The Wall Street Journal)
Hedge-fund manager Kyle Bass, of Hayman Capital Management LP, disclosed a 5.2% stake in J.C. Penney placing Mr. Bass among the struggling department-store chain’s largest stockholders. J.C. Penney shares were up 2.6% at $12.80 in recent premarket trading. The stock is down by 37% this year, including a drop of roughly 15% last month.
JCPenney Files Lawsuit, Wants to Stop Construction of Dick’s Sporting Goods (Mentor Patch)
A Great Lakes Mall tenant wants Dicks Sporting Goods Inc (NYSE:DKS) to cease construction of its new store and remove fencing. J.C. Penney Company, Inc. (NYSE:JCP) filed a lawsuit in Lake County Common Pleas Court Thursday alleging that Simon Property Group, the mall’s landlord, broke its lease agreement with JCPenney by allowing Dicks Sporting Goods Inc (NYSE:DKS) to put up a construction fence adjacent to its store.
2 Women Charged with Stealing from Coon Rapids JCPenney (KSTP)
Two women were charged after admitting they stole merchandise from a Coon Rapids JCPenney. Officers were called to the J.C. Penney Company, Inc. (NYSE:JCP) on Riverdale Boulevard Northwest around 4:16 p.m. Sunday, Aug. 25, on a shoplifting report. A manager told police that two women stole clothing and left in a green vehicle with the license plate 868-HUT.
Perry ups stakes in JC Penney (NYSE: JCP) (Finance Post)
A hedge fund manager who already owned significant interest in J.C. Penney Company, Inc. (NYSE:JCP) has purchased additional shares in the retailer on Friday, a regulatory filing reports. This filing was made just days after the largest investor had announced his plans to sell his stake in the company. Perry Corp, the operation of Richard Perry, said it has purchased 3 million additional shares of the century old retailer. The shares were purchased in a secondary offering for $12.90 per share. Perry now owns 8.62 percent of the company, and earning them the rank of second-largest investor after George Soros.
J.C. Penney Company, Inc. : DoSomething.org Joins Forces with JCPenney (4-Traders)
This month, as part of its charitable giving program, jcp cares, J.C. Penney Company, Inc. (NYSE:JCP) is inviting customers to round up their purchases – both in-store and online at jcp.com – to the nearest dollar and donate the difference to benefit DoSomething.org. Funds raised for DoSomething.org, one of the largest organizations for young people and social change in the U.S., will help provide DoSomething.org members with the information, tools and platform they need to take action on the causes they care about. “DoSomething.org gives teens an accessible way to make a real impact on the causes they’re most passionate about. With the help of DoSomething.org, they have the power to make change happen,” said DoSomething.org CEO and Chief Old Person Nancy Lublin.