August 29, 2016
It seems as though mall news during the past several years has concerned shuttered stores. But one retailer isn’t having any of it. Rather than shutting down its stores, JCPenney is adding more merchandise and services to encourage shoppers to come to its more than 1,000 nationwide stores.
Less than five years ago, JCPenney was in dire financial straits. These days, however, fewer than 10 Penney’s stores aren’t making money. It turns out that some of the retailer’s more profitable locations are smaller stores in rural areas, where it pays almost no rent. Additionally, Macy’s pending closures could leave JCPenney as the main anchor in some malls. The causes of the turnaround include better service, stronger online presence, and more focus on customer identification.
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