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.