JC Penney's Case Study

331 Words 2 Pages
After shuttering its catalog business and spending the last few years focused on driving sales via a multitude of promotions, sales, and featuring exclusive brands, longtime retail giant JC Penney has lost its competitive advantage and is in desperate need of transformation (Kinicki & Williams, 2013). Despite having 590 separate sales last year Penney’s was unable to drive sufficient sales traffic in their stores or over the internet (Kinicki & Williams, 2013). As a result, Penney’s same store year over year sales increased a meager 0.7%, whereas competitors like Macy’s achieved 5.4% growth during the same period (Kinicki & Williams, 2013). Moreover, Penney’s was forced to sell approximately 75% of its merchandise at a discount of 50% or

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