J.C. Penney Losses Snowball
The bill for J.C. Penney Co.'s first year under Chief Executive Ron Johnson is in, and it's about $4.3 billion.
That's how much sales at the department store chain dropped in the 12 months after the former Apple Inc. executive cut back on discounts and rolled out a plan to fill stores with dozens of branded boutiques.
Declines worsened through the year, with sales down 28.4% from a year earlier in the fourth quarter, which spans the crucial holiday selling period. The company reported a fourth-quarter loss of $552 million, its worst of the year, and held $930 million in ...
Continue reading article with pop up player
J.C. Penney Losses Snowball
![J.C. Penney Losses Snowball]()
Reviewed by M. Amaar Tahir
on
6:17 AM
Rating:
No comments