Value-led JC Penney is one of the US’s largest clothing and home retailers, but has struggled to find its niche of late in the rapidly changing retail environment. Store numbers have been on a sharp downward trend as many urban shopping malls, in which the bulk of its 850 or so remaining stores are located, continue to suffer from declining footfall and underinvestment.
Despite having a well-established catalogue business on which to build, the retailer seems to have been left behind when it comes to online too.
Under a new senior team, JC Penney is working hard to bring back core shoppers by establishing a clear pricing strategy and improving the product mix. It is also investing in better visual merchandising and opening “brand-defining stores” through which it aims to leverage learnings from customer feedback.
The business was founded in Kemmerer, Wyoming, in 1902 by James Cash Penney.
Asda co-owner and billionaire Zuber Issa is reportedly edging closer to securing a deal to sell his £500m stake in the grocer to private equity firm TDR Capital.
Boots has relaunched its vegan and cruelty-free own-brand cosmetics range the Natural Collection by launching over 100 products with a clean new look and fresh formulations available at £5 or under.
Grocery delivery platform Gopuff has announced it is price matching against discounter Aldi on certain items for London-based customers.
Global cosmetics giant L’Oréal has kicked off the first quarter with high-single-digit growth in sales as it “continued outperformance in a global beauty market that remained dynamic”.
Retail sales growth was flat last month, the Office for National Statistics (ONS) has reported.
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