J.C. Penney Co.’s (JCP) sales are falling, its stores are stuck in malls and the turnaround strategy keeps changing. Now, three months after the embattled retailer

J.C. Penney struggles to avoid same fate as Sears

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J.C. Penney struggles sales are falling, its stores are stuck in malls and the turnaround strategy keeps changing. Now, three months after the embattled retailer hired a new chief executive, a handful of senior positions remain vacant. The series of events is prompting analysts and other industry experts to question whether Penney can avoid the fate of fellow department-store operator Sears. [The Wall Street Journal]

J.C. Penney struggles has been described as a ‘broken business’ by experts who say a history of ill-informed strategies

  • Stock prices in the company fell below $1 for the first time last month, having previously traded at $80 a piece during the recession 12 years ago
  • JCPenney has been described as a ‘broken business’ by experts who say a history of ill-informed strategies and a depleted boardroom are to blame
  • Once fierce rival Sears filed for bankruptcy last October, and JCPenney is expected to follow suit – however they could actually profit from Sears closures
  • The company currently has a mounting debt of $4.3 billion. $50 million is due to be paid of this year, and $2.1 billion will be coming due by 2023
  • They announced a 3.5% drop in holiday sales this year. If the the retail chain was to go under, 846 stores could close – affecting thousands of jobs 

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