Description: J. C. Penney (JCP), the centenarian retailer, is reeling from post-traumatic stress disorder. Its sales, stock price, and management credibility are all tanking. The company is in disarray after activist hedge fund manager Bill Ackman installed a chief executive officer (now departed) whose aborted attempt to reinvent the department store failed miserably and alienated longtime customers. Penney hasn’t registered a quarterly profit in two years. Suppliers are scared. The stores echo.
Source: Businessweek.com – video report
Date: Sep 27, 2013
Questions for Discussions:
- Summarize the situation at J.C. Penney.
- Do you think the company can survive with the current plan?
- What would you do if you were in charge at the company?