J.C. Penney's overhaul benefits suppliers, rivals, WSJ reports

theflyonthewall.com

Many are benefiting from J.C. Penney's (JCP) store overhaul, and not just the shareholders, reports the Wall Street Journal. The plan has boosted suppliers hired to refurbish Penney's stores and update its technology. Other beneficiaries include some of the company's rivals, as customers frustrated with changes at the retailer find new places to shop. Still, shareholders suffer as Penney shares are down about 40% since the new CEO Ron Johnson announced his plan in January.

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