J.C. Penney on Thursday announced plans to put more than $1 billion by fiscal 2025 toward improving its operations and customer experience.
The department store will invest in digital capabilities, in-store upgrades including tech, and merchandising and supply chain improvements. Plans also entail boosting the retailer’s appeal through inclusive and affordable merchandising, customer service and local community engagement.
Since emerging from bankruptcy over two years ago, the company continues to struggle. Last year net sales fell 3.4% year over year to $7.6 billion, and net income plummeted 36.3% to $221 million.
Source: Retail Dive
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