Question

Write an essay's conclusion about JCPenney's COE's and the changes they've made in the company.

Answer 1

J.C. Penney is a 117-year-old retail chain of Fashion, Appliance, furniture, and accessories in Newyork. It has more than 800 retail stores in the prime location of Newyork city. Earlier J.C Penney was the flagship store where customers get a wide range of assortments and great shopping experience.

At present, the retail sector remains strong in the USA. But J.C.Penney is stumbling because of their internal issues.

Jil Soltau first female CEO of the company joined in last October month in the ailing phase of the USA departmental store. Previously she was working for arts-and-crafts retailer Jo-Ann stores LLC.

Post joining the company she surveyed and did interviews and came with many findings. Within five months of her working period, she closed 18 non-profitable stores. Prior to Jil Soltau, Marvin Ellison in 2016 re-introduced appliances. Soltau closed the appliance business. And the furniture business is active only online.

CEO has found about the store is not rightly connected with the customer. We should look at the customers' needs and their augmented requirements. There is a need for a re-layout of the store for a better look and better shopping experience.

The fitting room and workshops revamp will improve the sale of the core business. She is trying to make a turnaround with the changes in each department. The Target customer for the store was a Lower middle-income group. They were price-sensitive. J.C. Penney was selling new merchandise at a higher price. The same merchandise in a competitor store had lower pricing. Those merchandises were moving once it was marked down.

Pricing was also a reason for the downfall of the brand . earlier in 2011 CEO Ron Johnson could not able to do any dramatic changes.

Jil Soltau may be able to take retailer in a new era of growth with new brand image.