Swot Analysis Jcpenney

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To understand the progress and future of a company, one must look to its past. JCPenney is a company that has seen great success and major failure over the course of its existence. When JCPenney first opened they were more than just fashion. They were a one-stop shop location; it was once the largest department store chain in the country. (Ofek) However, JCPenney was popular for more than just its products. Founder James Cash Penney had the philosophy that customers should be treated the way he would want to be treated. Although JCPenney is still a well-known name, the company has been on the decline for a while, showing poor performance year after year. Taking a look at some major elements encountered over the last 10 years in JCPenney’s…show more content…
In this plan the JCPenney Company plans to accelerate the growth of its stores and customer base, as well as its financial performance. “Building on the strength and progress of the last two years, our new Long-Range Plan is designed to make JCPenney the growth leader in the retail industry. We will do this by accelerating our growth through vigorous execution of our new strategies. We have tremendous confidence in our management and 155,000 engaged Associates across the country to achieve our vision to be the preferred shopping choice for Middle America,” said Myron E. Ullman, III, chairman and…show more content…
ft. store in New York City’s Midtown Manhattan. The four strategies for the Long-Range Plan included “(1) developing a strong and enduring emotional connection with customers; (2) offering inspiring merchandise and services; (3) becoming the preferred choice for a retail career; and (4) establishing JCPenney as the growth leader in the retail industry. ( ) Also, while planning to open 250 new stores, the Company planned to renovate approximately 300 stores by the end of 2011. This Long-Range Growth Plan was more faulty execution. The strategy was there. The Company has planned its budget and ideas based on the previous two successful years. However, they did not execute in every way they could. Stores in 2014 still had missing letters in their name, stores were messy with clothes in piles on the floor, employees left cash registers empty and cluttered with clothing, and more. (Bashin) Just earlier this year, JCPenneys announced they will be closing approximately 40 stores. (Cohn) In November 2007, JCPenney’s also launched JCPenneyBrands.com. This site covered the company’s private and exclusive brands, and their branding strategy, with a preview of upcoming product line. (Maithya) However, this site is no longer up and running because of faulty execution. The company was already on the internet but here they

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