This year has been rough for J.C. Penney. Already in 2018, the department store retailer cut hundreds of jobs, disappointed investors in consecutive earnings reports and struggled to significantly improve apparel sales after taking dramatic steps to do so last year.
While some analysts still see the retailer as one of the stronger remaining players in the department store world, others are losing their patience with the company's turnaround efforts, which have yet to yield permanent positive profits or comparable sales growth. And that turnaround plan was just complicated by the sudden resignation of Penney's chief executive. . . . more