After taking a hard-line approach against big coupons and discounts, ailing retailer J.C. Penney keeps going back to the familiar well of promotional prices to lure customers to its newly redesigned stores. The most recent iteration is the $10 "gifts" CEO Ron Johnson has mailed many customers. While the company has been quick to point out all of its potential, and roll out newly redesigned stores, consumers aren't budging.
Same-store-sales have continued to be weak as the company struggles to get traffic in the door. In the following video, Austin argues that maybe the company shouldn't shy away from sales so much, and embrace what its customers identified with in the first place.
Yet the company still has hope. The world's best retailer, Apple, is also a product of J.C. Penney's CEO. If he was able to make Apple the world's most profitable retailer by square foot, he should be able to pull some rabbits out of his hat for one of the companies that wrote the book on retail.
For now, though, stick with greatness and aim for Apple instead. If you're looking for a recommendation on how to play the company today, along with continuing updates and guidance on the company whenever news breaks, we've created a brand-new report that details when to buy and sell Apple. To get started, just click here now.