I hope J. C. Penny stays afloat. My wife and I really like what this store has become. We buy a lot of clothes there. I figured they were doing OK. They sell good quality merchandise for cheap. The lines were huge this season at our local Penny's. That place was always crowded with shoppers.
We shop at both Penny’s and Kohl’s. As with you, we buy a lot of clothes there. Also appliances when it comes to Kohl’s. We just picked up a new toaster and electric grill at Kohl’s after the Christmas holiday. Really good prices.
My guess would be, they really have to discount deeply due to the economy and that’s what’s hurting their profitability. I may be wrong, but it would seem that way to me.