JC Penney heading down same path as Sears

[giantsfan2016]

JC Penney appears to be heading down the same path as Sears. Stock is trading for under $1, the company is $4 billion in debt, and they haven't made a profit since 2010.

https://www.cnn.com/2018/12/26/investing/jcpenney-stock/index.html

They have a $2.1 billion debt payment due in 2023, which most likely they won't be able to pay. They're probably going to shutter more of their remaining 860 stores.

[danfifepsu]

JC Penney appears to be heading down the same path as Sears. Stock is trading for under $1, the company is $4 billion in debt, and they haven't made a profit since 2010.

https://www.cnn.com/2018/12/26/investing/jcpenney-stock/index.html

They have a $2.1 billion debt payment due in 2023, which most likely they won't be able to pay. They're probably going to shutter more of their remaining 860 stores.

closing them in malls that arent doing well makes sense. What can be done for JC PEnny to be saved. Both Sears and JC Penny gone could hurt a lot of malls, big time. and we need a dept store anchor.

[retailisking]

They're almost certainly going to have to file Chapter 11 long before 2023. There's nothing in anecdotal observations of stores this holiday season to suggest that results will be anything other than dismal. The new CEO arrived far too late to have a meaningful impact on holiday season planning, and the stock is in serious danger of delisting. JCP is a victim of bad timing and bad legacy decision-making, particularly by Ron Johnson. Once you chase away much of your customer base, it's nearly impossible to win them back, especially if your competition is executing well.

[danfifepsu]

They're almost certainly going to have to file Chapter 11 long before 2023. There's nothing in anecdotal observations of stores this holiday season to suggest that results will be anything other than dismal. The new CEO arrived far too late to have a meaningful impact on holiday season planning, and the stock is in serious danger of delisting. JCP is a victim of bad timing and bad legacy decision-making, particularly by Ron Johnson. Once you chase away much of your customer base, it's nearly impossible to win them back, especially if your competition is executing well.

what can be done to save them? and yes this will hurt malls.