According to the article it seems the retail store we all know as JC Penny hasn’t been doing so well as far as their sales have been going which is something the public was probably unaware of. The article stresses how well they are doing and the come up they made however are they really making a come up. By the end of the year will they meet their sales needs? The article explains. According to the article JC Penny, “the company is seeking to calm investors who are growing pessimistic about a turnaround. ” I guess they have not been too high on the stock market.
However the article also states the store, “got a boost Tuesday after the struggling department store chain said that a key sales barometer wasn’t as bad last month as it was in August. The article depicts JC Penny is expecting to make over 2 billion dollars by the end of the year as they continue to strengthen. According to David Twill, which follows distressed companies. “Stemming the tide isn’t enough. ” “He noted that Penney is desperately marking down goods and it needs to show big gains in sales in the next year or it will run out of cash. This is something that IVe noticed a lot of tores do and we as consumers see it as Just a great sale but many do not wonder why. Companies outrageously mark everything down and then when they get back to their comfort zone of sales they go back to their expensive ways. JC penny needs to find out how they can appeal to their customers wants and needs to keep their sales up. David Twill is basically saying that once those goods marked down are marked up once again they will not meet their goal for the year if they do not get to the root of why they are not booming in the first place.
However JC penny is bringing in brands hey didn’t have before to keep up with sales such as Betsey Johnson and the article depicts that “reconnecting with customers and getting them into stores is a top priority for the chain. ” JC Pennys CEO Mike Ullman states, “We are all dedicated to continuing the momentum underway and restoring J. C. Penney to a leadership position in American retail. It will take time, but we are on the right path with a sound strategy and achievable goals,” Will JC Penny continue as the retailer we are used to knowing them as this article basically explains their recent ups and downs but only time will tell.