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JC Penney "To lure the new type of customer (20- and 30-somethings) that this CEO was aiming for takes a slow steady plan, not a leap off the high board like he did," chimed in reader Richard ...
To say this week has been brutal for J.C. Penney shareholders seems a massive understatement. The stock has lost more than 30% since Monday, when I pointed out that the struggling retailer was ...
Taubman spoke privately to Bates, letting him know they would withdraw the Hilltop proposal unless they received at least one of the three votes, adding they would then build the shopping mall in a neighboring city. Bates, fearful of losing the sales tax revenue, made a motion and voted to support the Hilltop site. [4]
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After 17 months on the job, J.C. Penney last week showed CEO Ron Johnson the door after the former Apple executive failed to turn sales around at the nationwide department store. While much of the ...
In 2004, Malcolm Gladwell wrote that investment in malls was artificially accelerated when the United States Congress introduced accelerated depreciation into the tax code in 1954. [25] Despite the construction of new malls, mall visits declined by 50% between 2010 and 2013 with further declines reported in each successive year.
Liquidation sales began on May 22, and the stores closed by July 31. [166] Another 8 stores and a distribution center closed in 2018 while over 50 additional stores were expected to close between mid-2019 and late 2020. [167] [168] JCPenney filed for bankruptcy on May 15, 2020, and announced plans to close at least 242 stores. [169]
Based on this year's performance, there hasn't really been a "right" time to invest in J.C. Penney . The company has had no end of woes, and it has so far failed to make the long-coming turnaround ...