J.C. Penney is still losing customers, sales and money as Soltau tries to pull off a lasting turnaround. The CEO has built out a team of new executives this year and has an eye both on finances and the need to invigorate the retailer's stores and offering.
The stakes are as high as they've ever been. Penney's bonds are rated as junk, its shares are traded at penny stock levels and, after news broke that it was working with financial advisors, the company had to tell a jittery world that it was specifically not working on a Chapter 11 filing.. . . more