This Turnaround Is Turning Into a Disaster

Everyone on Wall Street and Main Street is watching to see whether department-store chain J.C. Penney can turn its business around. Once a thriving company, the chain is now struggling and losing money -- $80 million in such as Wal-Mart and Target and high-end department stores such as Nordstrom and Saks Fifth Avenue. That’s why, last year, the company hired Apple executive Ron Johnson to right the ship.

So how's this turnaround going so far? Well, the show isn't over, but right now it's looking like a disaster. Q2 same-store sales were down 22%, and total sales were down 23%. But Johnson's latest move may prove even worse for this legendary retailer.

To learn about two other retailers with far brighter prospects, we invite you to take a look at The Motley Fool's special free report: "The Death of Wal-Mart: The Real Cash Kings Changing the Face of Retail." In it, you'll see how these two cash kings are able to consistently outperform and how they’re planning to ride the waves of retail's changing tide. You can access it by clicking here.

Catherine Baab-Muguira and Lyons George have no positions in the stocks mentioned above. The Motley Fool owns shares of Apple. Motley Fool newsletter services recommend Apple. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.


Read/Post Comments (0) | Recommend This Article (8)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 1995866, ~/Articles/ArticleHandler.aspx, 8/22/2014 6:25:06 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement