Also from Gene Hoffman...
December 6, 2012
While many point to changes in pricing and promotion as the why behind plummeting sales at J.C. Penney, another reason may have been spelled out in Penney's recent SEC filing: workforce reductions. Do you think J.C. Penney management has lost or is in danger of losing the faith of its employees? [more...]
Faith without needed sales causes morale problems and then faith fades away.
JCP now means "Just Couldn't Pull-it-off."