How did JC Penney get so bad off?
- Anonymous2 weeks ago
They are still talking about "We are talking to moms and appealing to what she wants." The kind of moms who want to escape from home on the weekends to go splurge on clothes, towels, and Bath and Body Works next door do not exist. Now moms want to stay home with their families and watch movies or go outside or lead entrepreneurial groups online.
- Anonymous4 weeks ago
Thė frėė market has decided thėir-timė wås
up & online retail has truly put many buśinėss
out of such over these past 10 yėar's tôo !!
- RobertLv 74 weeks ago
Of the 93 people who still shopped there in the past ten years, 39 of them died. The rest could not spend enough to keep it profitable and they had troubles getting new stock to interest new and younger shoppers.
- SumDudeLv 74 weeks ago
They tried to go upscale instead of remaining true to their customer base; and competition from other stores.
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- ScottLv 74 weeks ago
Like Sears, Kmart, and dozens of other retailers, they were too slow to adapt to a changing world. They can't compete with Amazon.
- JayLv 64 weeks ago
JC Penny did not get in to e-commerce quickly enough.
And they took on too much debt financing to maintain an outdated business model.
- UserLv 74 weeks ago
Malls nearly everywhere were already dying
when the World Wide Web showed up and finished them off.
- yodiLv 64 weeks ago
Just like Sears and K-Mart,......... Amazon became a Monopoly that no one stopped.
- No BozosLv 74 weeks ago
Internet sales took over and people have become too lazy to actually walk around and shop for items.
- 4 weeks ago
It was basically an outdated business model, and no plan for long term sustainability in the age of ecommerce. Their business model was always to be a shopping mall anchor store. Sales started to slip and before long they had no money to really improve their problem. The dip in shopping mall revenue from the 2000's to the 2010's was a very sharp decline. In the 2000's shopping malls still did very well. It took their executives by surprise how quickly the mall declined.