J.C. Penney suffers big losses

Transforming a retail chain’s image may be harder than thought, as J.C. Penney is finding out.

The Texas-based company reported a staggering loss of $55 million, or 25 cents a share, in the first quarter of this year. Same-store sales fell 18.9 percent.

That’s a big loss for a company that invested big money in a new store redesign, a new CEO and a huge ad campaign featuring Ellen DeGeneres.

But the company is not giving up yet – saying their transformation is “ahead of schedule.”

Read more at TheStreet.

About Ashley Wislock

Business reporter focusing on retail for the York Daily Record/Sunday News. In my spare time, I'm a social media, sports, reality TV and celebrity gossip junkie. Contact me at awislock@ydr.com or 717-771-2029!
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5 Responses to J.C. Penney suffers big losses

  1. Mike says:

    My wife stopped going to Penny’s when they stopped issuing discount coupons. When all the other stores are still having sales, JC Penny’s wants us to believe there prices are really lower?
    Maybe, but the preseption is terrible.
    This CEO needs his head examined.
    Have you seen the Sunday Newspaper Ads for Penny’s? Yikes,,,,,, they are terrible….. sometimes you don’t fix what isn’t broke.

    • ashley wislock says:

      I tend to agree on the coupons – as long as they’re usable (some places always have a ton of exclusions!)
      There’s something nice about seeing your bill shrink down with a coupon.

      But most the stuff at Penney’s is pretty reasonable priced – though I have seen a couple cases when prices went up!

  2. Pingback: York Common Cents | J.C. Penney starts adding more sales

  3. Pingback: York Common Cents | J.C. Penneys to add Izod store-within-a-stores at 600 locations

  4. IVmKLr says:

    357588 639879There is noticeably a bundle to find out about this. I assume you made sure nice factors in options also. 174703

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