Last year I posted a fair amount about JC Penney and their Board’s inept decisions. The last post suggested JC Penney may not last long after the Holiday season. Well here we are and the decline continues. They announced yesterday the closing of 33 stores. While that is only about 3% of total stores, it is movement in the wrong direction.
But as I have asked since they fired their “new” CEO, Ron Johnson, how is returning to a failed strategy going to fix the company? As the late Strother Martin famously said, “Morons, I’ve got morons on my team.”
I may be wrong, but for now the decline continues … sadly.
Mitch
