HP (NYSE: HPQ) today announced a definitive agreement to acquire ActiveState Software Inc.'s (ActiveState) Stackato business, an enterprise-ready Platform as a Service (PaaS) solution with Cloud Foundry at its core. ActiveState is a leading provider of open source software application development and management solutions. Stackato's open technology built on Cloud Foundry PaaS gives HP a more complete cloud offering. By providing developers a single cloud application platform with enterprise-level security and world-class support, Stackato will enhance the HP Helion Development Platform by enabling customers to bring applications to market faster by reducing the amount of time spent on IT configuration.
J. C. Penney Company, Inc. (NYSE: JCP) announced today that its comparable store sales for the combined nine-week period ending Jan. 5, 2019 decreased 3.5 % on a shifted basis. On an unshifted basis, comparable sales decreased 5.4 %.
The Company also reaffirmed its expectations to generate positive free cash flow in fiscal 2018, reduce inventory in excess of $225 million or 8% and expects to end the year with liquidity in excess of $2 billion.
Additionally, JCPenney will initiate three preliminary store closings this spring as part of an ongoing evaluation of its store portfolio occurring over the next few months, which includes assessing locations that may not meet required financial targets or represent a market opportunity to capitalize on a beneficial real estate asset. Further information related to future store closings will be shared on Feb. 28 when the Company reports its fourth quarter and fiscal 2018 results.