JC Penney
This department store isn’t doing very well although it has better performance than Sears. The store has laid off 1,000 employees as well as closed a distribution center in 2018. Its top-line sales fell 0.3 percent with a $116 million net income in 2017. RetailDive reported that the company is having difficulty in reverting things back to better times. One big factor in their struggle is its $4.2 billion debt.
JC Penney
According to RetailDive, JC Penney investors are becoming more and more impatient with the slow progress. The company has also made changes to its lineup of executives including its CEO. In May 2018, Marvin Ellison left his position as the chairman of the board to lead Lowe’s. Maybe they should also consider changing what they offer like Office Depot?
Office Depot
This retailer of office supplies experienced some difficult times in 2017 with its sales dropping 7 percent to $10.2 billion. Gerry Smith, its CEO, announced that the company would be shifting from doing only retail sales to also providing services. RetailDive reported that the new emphasis is increasing the top-line of the company.
Office Depot
A business to business service that Office Depot provides is a subscription program called the “BizBox.” This sub-unit provides services more than products. The investment in its services also covers the acquisition of CompuCom, an IT firm. Another company, Vitamin Shoppe, has also tried to change its company’s focus.
