Cookie banner

This site uses cookies. Select "Block all non-essential cookies" to only allow cookies necessary to display content and enable core site features. Select "Accept all cookies" to also personalize your experience on the site with ads and partner content tailored to your interests, and to allow us to measure the effectiveness of our service.

To learn more, review our Cookie Policy, Privacy Notice and Terms of Use.

clock menu more-arrow no yes mobile

Filed under:

JCP Wire

Racked is no longer publishing. Thank you to everyone who read our work over the years. The archives will remain available here; for new stories, head over to, where our staff is covering consumer culture for The Goods by Vox. You can also see what we’re up to by signing up here.

JCPenney's net losses have nearly doubled from the first quarter loss of $163 million to a second quarter loss of $348 million. While returning CEO Mike Ullman was vague over the department store's game plan from this point ("We need to get the right merchandise into the right place in the right time"), he did make an understated dig at the past year's policies under Ron Johnson: "We're open for all customers. It became popular wisdom that somehow we didn't want some customers and we wanted other customers." [WWD, sub req'd]