JC Penney (JCP): Outlook Dim even with New CEO

10:14 10/09/2018

While retailers have been hit hard in recent years, JC Penney’s (JCP) riches to rags story is one of the most severe. Now down 95% over the last 10 years, it’s a mere shell of its former self. And while there’s new CEO at the helm, it may not be enough to help. "They're in a leaky boat that eventually will sink," Mark Cohen, the director of retail studies at the Columbia Business School, as quoted by CNN. "The prognosis for the future is not happiness." After two CEO failures, the company has now hired JoAnn Stores’ CEO, Jill Soltau – the first woman to hold this role at the company, believe it or not. Considering that 70% of JCP customers are women, you’d think they would have done this a long time ago. Failing to bring in a female CEO a long-time ago is another sign of poor decisions. Can a New JC Penney CEO Help?

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