JCP can reject leases on under performing stores. It can clean up its balance sheet. It can give itself a good chance to survive and come out of bankruptcy protection a much stronger company.
JCP would still be way too high. JC Penney is in a very deep hole that they won't be able to pull themselves out of.
Ron Johnson wasn't content dissing customers by ending sales and coupons. No, he had to throw the LGBT rainbow in their face. (Now we know why all clothes got so pretty and colorful so quickly.)
Yes, JCP will be that one 'gravy train' I'll miss out on. I've got great faith that JCP longs will have a very rude awakening early in 2014.
I use JC Penney only as a pass-through to the mall. JC Penney has nothing I can't get cheaper and better somewhere else. They do have clean restrooms though.
JCP longs just don't get it. Ron Johnson dug a pretty deep hole for JCP. When you run off nearly a third of your shoppers and you spend millions to renovate your stores without first doing any market testing, you doom not only your leadership but all subsequent leaderships. JCP has taken on MASSIVE DEBT and SHRUNK ITS CUSTOMER BASE
So if you dropped 32% and then increased 10%, then you are still down 25% from 2 years ago. (1-.32)*1.1 Less
Exactly! JC Penney is STILL way down with regard to sales and revenues.