J.C. Penney is running out of time for a turnaround, analyst says

[Yo_Mama_Been_Loggin]

J.C. Penney is running out of time and money to turn around the business, said GlobalData Retail, following another quarterly report that showed losses and topline deterioration for the department store.

J.C. Penney (JCP) stock was up 2.7% in Friday premarket trading after the company reported narrower-than-expected losses and announced it would add ThredUp shops to 30 stores across the country to sell secondhand clothing and handbags, a move meant to appeal to younger consumers.

But shares are down 67% over the past year, compared with a 13.6% gain for the S&P 500 index. J.C. Penney stock closed Thursday at about 58 cents. The company received a non-compliance letter from the New York Stock Exchange on Aug. 6, for the persistent sub-$1 share price, an indication it’s at risk of being delisted.

GlobalData Retail says the on-trend secondhand shop is a small addition that won’t have much lasting impact. ThredUp is also partnering with rival Macy’s Inc. (M) on a secondhand push. Moreover, J.C. Penney has lost relevance, which is critical for a department store retailer.

https://www.msn.com/en-us/money/topstocks/jc-penney-is-running-out-of-time-for-a-turnaround-analyst-says/ar-AAFTCdX?li=BBnb7Kz

[CrispyQ]

1. I hate shopping.

But I also hate buying clothing online cuz you never know about the quality or size. I went into the local Macy's a few years ago & was surprised to see half the store was filled with racks & racks of discounted clothing. The whole store looked messy & crowded with merchandise.

There is a trend in malls now, to have the big box stores sitting alone or in a row of two or three, in the parking lot & then have the smaller boutique stores in a block setting, like old time city blocks, away from the big box stores. I don't get it. The boutique stores are so far from the big box stores that you have to drive more to get to different stores/restaurants. When it's 95° out, who wants that? Also the streets are super narrow. Maybe they are trying for an old-time downtown feel, but it doesn't work for me.

[JCMach1]

2. Secondhand stuff? What genius thought up that strategy for JC Penney?

[elocs]

3. The mall in my city once had 4 anchor stores and 3 are gone.

Only J.C. Penny remains and I'm sure that will be soon gone as well.
Growing up in my city for over 60 years, Wards is gone as well as Sears and Kmart and Woolworths. Just recently the regional retailer ShopKo went bankrupt and closed 3 stores here.
Retailer who want to survive need to find a new vision because the old one clearly is not working for many of them.
If Sears would have had vision it could have been the Amazon of today.