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Encouraging news about the U.S. economy extended the stock market's rally Friday. A gauge of future economic activity rose more than analysts had expected, as did a measure of consumer confidence, adding to evidence that the economy is steadily...
The legacy of J.C. Penney's former CEO continues to cast a dark cloud over the department-store chain. Penney on Thursday widened its loss in the first quarter on a 16% plunge in revenue. It marks the fifth straight quarter that the struggling company...
Cinemark Holdings Inc., the nation's third-largest theater chain, is bulking up in Los Angeles County with plans to open a multiplex at the SouthBay Pavilion shopping mall in Carson. Vintage Real Estate, which owns and manages SouthBay Pavilion, said it...
Tags: Target, Sears, Old Navy, Entertainment, Arts and Culture
Macy's Inc. reported a 20% increase in first-quarter profit even though cool temperatures and economic worries damped some shoppers' spending on spring clothes. The company, which also operates the upscale Bloomingdale's chain, is also raising its...
For a while, J.C. Penney and Best Buy seemed to be doppelgangers. The two retailers struggled with intensifying competition after years of comfortable stagnation. Beset by Wall Street skepticism and shaky consumer loyalty, each made sweeping attempts at...
Say there’s a concert scheduled at a major Los Angeles venue, but that managers smell gas in the air before the show goes on. Chances are that they will cancel the event and take a loss out of an abundance of caution, said Dov Charney, chief...
Things are starting to get personal in the battle between hedge fund manager Bill Ackman and Herbalife Ltd., the Los Angeles nutritional products company he’s accused of operating a long-running pyramid scheme. Herbalife spokeswoman Barbara...
The death toll in the devastating collapse of a Bangladesh building surpassed 500 on Friday as salvage crews continued to pull scores of bodies from the rubble. Nine days after the disaster, more people faced punishment or arrest in connection with...
J.C. Penney is pleading publicly for its customers to come back to its stores, releasing a new commercial apologizing for a jumble of changes instituted by recently ousted chief executive Ron Johnson. The 30-second video went live on YouTube, Facebook...
J.C. Penney acquired a five-year $1.75 billion loan from Goldman Sachs as the struggling company looks to strengthen its finances. The news came about two weeks after J.C. Penney announced it had drawn $850 million from a $1.85 billion credit line....
Billionaire financier George Soros seems to be showing faith in J.C. Penney’s chances at a turnaround, taking a 7.9% stake in the struggling retailer. The hedge fund titan bought nearly 17.4 million shares through his Soros Fund Management,...
Tags: Ron Johnson, Mutual Funds, George Soros
The stock market stalled Friday after the U.S. economy didn't grow as much as hoped and earnings from a handful of big companies failed to rev up investors. The economy grew at a 2.5 percent annual rate in the first three months of the year, the...
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