2 Signs That J.C. Penney's Management Needs Help
In a rapidly changing retail world, J.C. Penney (NYSE: JCP) runs the risk of slipping into irrelevance. The chain has made some moves to adapt its business the current market, but its transformation efforts appear to be falling short.
It's not that the chain is doing everything wrong. Its efforts to add appliances and to revamp its women's apparel offering have started to pay off. It has also smartly revamped its in-store salons and added more store-within-a-store Sephora locations to give customers more reasons to visit the retailer.
This has partly paid off, with Q3 comparable-store sales climbing by 1.7%. Overall sales, however, dropped by 1.8%, and its year-over-year loss nearly doubled, climbing to $128 million, or $0.41 per share, compared with $67 million, or $0.22 a share, in Q3 2016.
Source: Fool.com
