Penney’s like Macy’s is hanging by a thread.
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I’m amazed that stores like Penney’s, Sears, K-Mart are still able to hang.
When I’ve been in one there are small numbers of customers.
We have what I call a “zombie” K-mart in our town.
You go in, the lights are on, the heat/ac works, but nobody in there.
Amazingly this has gone on over a decade.
JCP is hanging in by cost cutting and going back to having a higher value product mix at a decent price point.
Sears/KMart is toast ,, they played the lease buyback/rentback card with their real estate and as the economy continues to flail it just isn’t working. The latest thing is that they’re going to try selling cheap Chinese tires with the DIEHARD brand on them.