Friday, November 1, 2019

Business: JC Penney tries to Pull Itself Together

Struggling yet iconic retailer JC Penney is testing ideas at a remodeled Texas store featuring a fitness studio, a videogame lounge and style classes.

CEO Jill Soltau, who took the reins last year, is also focused on getting back to basics, such as making its stores easier to shop and getting out of less-profitable categories. In recent years, revolving management and strategic changes have plagued the company, and Ms. Soltau doesn’t have the luxury of time.

J.C. Penney’s revenue fell to $12 billion in the fiscal year that ended in February, down from nearly $20 billion in 2007, and the company has lost money every year since 2012.

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