JCPenney Is Busy Reversing Everything Ron Johnson and 2 More Heavily Traded Stocks to Follow
J.C. Penney & Co. (NYSE:JCP): Current price $7.87
The historic retailer is starting to live in the past — literally. Penney’s is busy removing any vestige of the Ron Johnson administration as it takes out employees carrying iPads who were checking out customers, and brings back register lines. Visible no more are the Wi-Fi and boutique-style store-within-a-stores. Back to stay are some of its old, comfortable brands such as St. John’s Bay. Probably the most noticeable reversal of all is the disappearance of everyday low prices, while doorbuster sales return. Same-store sales at Penney’s were down by 4 percent in September year-over-year, but they were 5.8 percent above August’s figures. What is more, online sales jumped by 25 percent, making the back-to-school season one for the records.