![]() ![]() Especially if aspects of this space don't end up in the retailer's more than 800 other locations across the country - some of which are in poorer shape than others. It's hard to say if this will really move the needle for Penney, however. It is a store where we can leverage learnings from customer feedback, yet also observe customer preferences and shopping behaviors." "Our brand-defining store is the fullest articulation of our customer strategy. "A brand-defining store is not a prototype to roll out across all our stores, and it is not a flagship store," Soltau explained. There also are fitness studios and styling classes. Some unique additions to the first-of-its-kind location include a barber shop, a kids play area, a cafe, a "selfie studio" and styling rooms for men and women. You can get a small taste of what Penney is testing at a recently opened store in Hurst, Texas, which the company refers to as a "brand-defining" space. It also raised its expectations for adjusted earnings before interest, taxes, depreciation and amortization for the current fiscal year. The company reported a narrower-than-expected quarterly loss for its fiscal third quarter and said some of its turnaround initiatives, such as adding better apparel displays in stores and putting mannequins back in the women's departments, are taking hold. It has a market cap of just $376.6 million, compared with Macy's $5.2 billion. The stock, which has been at risk of being delisted from the NYSE, has risen about 5% this year, pushing it back above $1. Penney shares up about 6% Friday, to trade around $1.16. "Indeed, focusing on visual merchandising and driving traffic are sound strategies, but will take time," he said. "Favorably, unlike some of Jill Soltau's predecessors, she seems to want to embrace the core JCPenney shopper for who that is. "Looking ahead, management laid out a thoughtful strategy, in our opinion, to restore JCPenney," Gordon Haskett analyst Chuck Grom said in a note to clients. Penney especially wants to avoid the fate of bankrupted Sears. It has teetered between sales declines and growth over the past decade, reporting a drop in annual sales of 6.6% last year, compared with a 2.6% gain the year prior.ĬEO Jill Soltau told analysts on Friday morning, "We know we need to deliver something different," for 117-year-old Penney to be around for another 117 years. It hasn't reported a quarterly sales gain since the 2017 holiday season. Penney is calling for sales to be down 7% to 8% in fiscal 2019. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit ![]()
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