Question: In 2 0 0 7 , J . C . Penny's stock price was $ 8 4 . 0 5 . The company has seen

In 2007, J.C. Penny's stock price was $84.05. The company has seen a steady decline since. In 2012 the stock price was around $41.72, and right before the pandemic it was about $1.24, and dropped to $.28 during the pandemic. Revenues have steadily been declining in the past few years, dropping from $19.9 million in 2007 to $12 million in 2017. In 2019, the company announced that it will close 30 additional stores (on top of the 150 that it closed in recent years), and even more were closed in 2020 and 2021.JC Penney has since filed bankruptcy, but is emerging after restructuing and finding new ownership. The company hired Marc Rosen in 2021 as the new CEO. Traditional brick and mortar retail stores have been facing a turbulent external environment, but some have been successful in leading turnarounds during this time (Best Buy for example). Based on this information, what three pieces of advice would you give to Mr. Rosen in order to help the company turnaround?
 In 2007, J.C. Penny's stock price was $84.05. The company has

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!