J.C. Penney Loss Deepens In Q2
Although sales gained slightly in the second quarter, J.C. Penney’s loss expanded year over year, as the retailer pointed to a comp decline and the impact of a store closing initiative.
Although sales gained slightly in the second quarter, J.C. Penney’s loss expanded year over year, as the retailer pointed to a comp decline and the impact of a store closing initiative.
A retail revolution is happening before our eyes as the ever-changing purchase habits of consumers continue to rattle the cages of many brick-and-mortar retailers.
The retail news the first few weeks of 2017 has been less than rosy as reports of soft sales, store closures and even a bankruptcy filing have dominated the headlines.
J.C. Penney’s less than stellar 2017 fiscal results coupled with its decision to close upwards of 140 locations was the latest example of a retail industry challenged to meet the needs of a changing consumer base.
Department store retailer J.C. Penney will close as many as 140 locations as part of a plan to return the company to profitability.
A new Gordmans store has opened at The Shoppes at Parma in Parma, OH. The new store joins a mall that features a remodeled J.C. Penney, expanded Walmart and a new Dick’s Sporting Goods, according to PECO Real Estate Partners.
J.C. Penney has expanded its proprietary Cooks assortment with the debut of its new Signature line, which is positioned by the retailer as an “elevated” selection of small kitchen electrics, cookware and cutlery.
J.C. Penney said it was encouraged by its second quarter results, which saw comps and net sales rise and a narrower net loss.
First quarter sales at J.C. Penney were down, but operating income was in the black…
Sales in the home department helped J.C. Penney Co. beat a Wall Street earnings estimate…