J.C. Penney Banks On Towels, Luggage To Stem Losses

Mani

Published onAugust 21, 2013

Updated on May 13, 2021

J.C. Penney Company, Inc. (NYSE:JCP) plans to devote more floor space to towels, cooking utensils and luggage to stem its falling fortunes.

Yesterday, the retailer released its earnings report for the three months ended June, revealing it lost $2.66 per share. However, silver linings were seen in the company’s better than expected gross margin. The retailer was expected to lose $1.14 in the quarter on revenue of $2.8 billion.

New CEO reorients strategy

J.C. Penney Company, Inc. (NYSE:JCP)’s former CEO Ron Johnson was betting...

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Mani

Mani is a Senior Financial Consultant. He has worked in Senior Management role in large banking, financial and information technology organizations. He has provided solutions for major banking and securities firms across the globe in the area of retail, corporate and investment banking. He holds MBA (Finance) and Professional Management Accounting Qualifications. His hobbies are tracking global financial developments and watching sports

J.C. Penney Banks On Towels, Luggage To Stem Losses

New CEO reorients strategy

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