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.
J.C. Penney has been a train wreck whose comeback always seems just around the next earnings corner, but investors are beginning to doubt that CEO Ron Johnson can weave the same magic that he did at Apple. If you're wondering whether J.C. Penney is a buy today, you're invited to claim a copy of The Motley Fool's must-read report on the company. Learn everything you need to know about Penney's turnaround -- or lack thereof. Simply click here now for instant access.