Walk into a J.C. Penney and it’s a sea of red stickers. Almost everything is marked down, from apparel, jewelry and home goods to Christmas decor, bedding and appliances. And it’s not even Black Friday yet.
Even for a retailer whose identity is built on promotions and discounts, there’s an urgency to this holiday season. J.C. Penney Co.’s bonds are near record lows, its stock has slid toward a buck a share, and brand new Chief Executive Officer Jill Soltau is pushing her team to shovel out the dated goods that she says make the stores feel “over-assorted and heavy on inventory.”. . . more