Economy
Related: About this forumJCPenney stock is now 97 cents a share
These are tough times for JCPenney. A day after falling below $1 for the first time since it started trading in 1929, JCPenney stock fell 8% on Thursday to close at 97 cents a share.
The 110-year old company hasn't been profitable since 2010 and its prospects are bleak. JCPenney (JCP) is $4 billion in debt with a junk credit rating, a sinking cash hoard and no sign of a turnaround.
With few shoppers coming to stores, JCPenney faces inventory and supply chain struggles and no clear marketing plan or strategy. The company has been forced to offer steep discounts on clothing to clear its massive inventory glut.
Last month, JCPenney reported a $151 million third-quarter loss and a 5.4% drop in sales. The stock has fallen 68% this year and nearly 30% in December alone.
https://www.cnn.com/2018/12/26/investing/jcpenney-stock/index.html
Bluepinky
(2,268 posts)I love shopping there, good quality items for a fair price.
Just bought a new mattress there and my son bought his girlfriend a lovely ring for Christmas.
I like the Liz Claiborne clothes. And my daughter loves the Sephora makeup stores inside Penney stores.
left-of-center2012
(34,195 posts)I like the price, fit, quality.
kimbutgar
(21,148 posts)Planning to buy a new mattresses will check out their selection today.
Bluepinky
(2,268 posts)Liberty Belle
(9,535 posts)They have reduced the number of registers and the line was too long, so i gave up.