Shares of struggling retailer J. C. Penney Company, Inc. (JCP) got a boost in afterhours trading on Thursday, after billionaire investor George Soros revealed a 7.9 percent stake in the department store chain. In a regulatory filing, Soros said he owns 17.4 million shares of J. C. Penney.
Over the past few months, J.C. Penney has worked to improve performance through changes in its pricing and promotional strategies, including the return of coupons, and the development of other new initiatives to drive store traffic.
On April 8, the company's Chief Executive Officer Ron Johnson stepped down. The department store chain reappointed Johnson's predecessor Myron Ullman III to lead the struggling company.
Earlier this month, the company drew $850 million out of its committed revolving credit facility of $1.85 billion to fund ongoing spending. The company also said then that it is working with financial advisors to explore additional capital raising alternatives and develop a strategic financial plan going forward.
JCP closed up 0.3 pecent on Thursday at $15.24. The stock rose 7.2 percent in the extended trade and was at $16.33.
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December 19, 2025 15:10 ET U.S. inflation data and interest rate decisions by major central banks were the highlights of this busy week for economics news flow. Employment data and survey results on the housing markets also gained attention in the U.S. In Europe, the European Central Bank and Bank of England announced their policy decisions and macroeconomic projections.