26
November

JCPenney spending $1 billion on store, online upgrades in latest bid to revive business

By avi maxwel / in , , , , , , , , , /

NEW YORK — JCPenney said Thursday it plans to spend more than $1 billion by the end of 2025 in a bid to revive the storied but troubled 121-year-old department store chain.

The money is going toward remodeling Plano-based JCPenney stores, upgrading its online shopping site and app, and making its supply network more efficient so that online orders are delivered more quickly.

JCPenney’s CEO Marc Rosen, who took the company’s helm in November 2021 and has served as an executive at Levi Strauss and Walmart, is renewing the chain’s focus on its core middle-income shoppers with affordable fashion and housewares.

The $1 billion will be self-funded. It’s coming from cash flow that the business is generating and not from its owners, Rosen said. JCPenney was purchased out of bankruptcy in late 2020 by its largest landlords mall companies Simon Property Group Inc. and Brookfield Property Partners LP.

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JCPenney signals stability with move back into old Plano headquarters

“Now is the time more than ever to lean into that and make sure that we’re delivering that experience for our customer,” Rosen said in an interview with

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08
July

Eco-Friendly Online Shopping To Top $100 Billion

By avi maxwel / in , , , , /

Five years from now, none of us will go through a product checkout experience and not have the option to make our purchase carbon neutral. That’s how Dane Baker, co-founder and CEO of EcoCart, predicts the sustainable future of e-commerce.

His company, EcoCart, partners with brands and retailers to power a carbon-neutral and climate positive shopping experience. The app calculates the carbon footprint of products, giving consumers the opportunity to offset the emissions at checkout through brand-sponsored sustainability projects.

“We’re making it easy for consumers to take climate action in a frictionless way as they go about their daily lives,” said Baker. “Working with a global network of partners, we help brands strengthen customer relationships and loyalty. Shoppers have a deeper affinity with organizations that act on their shared commitment to sustainability.”

Brands of all sizes worldwide are using EcoCart to increase conversion rates and repeat purchases. A premium skin care product organization boosted repeat purchase rates by 50%. A fast-growing plant-based nutritional supplements company increased online cart conversions by 22%. One sustainable furniture company’s average order

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