J.C. Penney Company Inc.(NYSE:JCP) Getting Back On Track?


Dallas, Texas 01/13/2014 (FINANCIALSTRENDS) – J.C. Penney Company Inc. (NYSE:JCP), according to Stephen Sadove, a board member at JCP, and the National Retail Federation Chairman believes the JC Penney is soon to regain much of the market share the retailer lost to competitors. In his interview to a leading business online news line, the board member believes that the gap between two of the important competitors in the retail space – Macy’s at one level and Kohl’s at the next is definitely a place JCP will soon get back to fill-out.

Lost the Way

Thanks to some less-than perfect CEO expertise, Ron Jonhnson-led JCP found itself floundering, even as most of the sector worked through a turnaround by early 2012.  JCP not only hit the nadir but slid further into abysmal collapse, going from $18million to $12million in less than 1.5 years. However, with new CEO in place, the board claims the processes are now in place for a top-geared performance. Mike Ullman, the new CEO in place, the change forward it appears has already begun.

Things in place

J.C. Penney Company Inc. (NYSE:JCP) board member Sadove believes that the November comps are proof that JCP has now moved forward with greater employee motivation, bringing back brands that were the mainstay of JCP customers and ensured the product works for them.

On-track and moving forward

J.C. Penney Company Inc. (NYSE:JCP) cannot hope for the ‘silver bullet’ to make it a success on the competitive retail market. Though necessary priorities have been achieved and the sales in November have been near-satisfying, there were a few misses as well, believes Sadove. For example, according to Sadove, the struggling home business segment requires better strategy from Ullman’s team. He opines that the boards

Savode was quick to conclude that JCP with its 50-percent ownership was now getting back on keel to penetrate a major market segment with favourite brands being revived and much more!