JCPenney’s Biggest Obstacle to Comeback Is Its Own Reputation
JCPenney has a long way to go to turn around its slumping sales, and it won’t be an easy road. Alienated by faulty moves from a previous CEO, consumers seem to be lacking interest in returning to JCPenney. Jane Hali, CEO of Jane Hali & Associates, said the retailer needs a total overhaul, complaining of bad in-store and online experiences. But even that isn’t the biggest hurdle.
“The biggest hurdle is their reputation – that’s No. 1,” said Hali. “You’re talking about at least 12 to 15 years of problems. The consumer lost confidence. I stopped covering them as a stock because my clients have lost faith in them. [What’s more], the customer lost faith in JCPenney before the Street did.”
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