In the following video, Jeremy Phillips and Austin Smith speculate on what they'd do if they were J.C. Penney's CEO.
Austin says J.C. Penney should exit its leases, focus on stores that occupy owned real estate, and follow the example of a company like The Buckle, which controls its growth, has an industry-leading supply chain, and focuses on a high-margin private label that helps it differentiate itself from other department stores
Austin doesn't think J.C. Penney can ever be great again, but he does think CEO Ron Johnson has given it his best effort.
