Penney Feeling Good About Q4 Prospects
many others, J.C. Penney did not have a good fourth quarter in 2008. It’s
hoping for a better performance this year and CEO Myron “Mike” Ullman is
feeling optimistic that new styles and affordable prices will help the
others, Penney has been reducing inventory to help it limit the number
of markdowns it has to take to move merchandise.
Mr. Ullman believes
Penney has benefited from its standalone stores located outside of shopping
discount venues are tending to do better in this climate because people
are shopping more for need and closer to home,” Mr. Ulllman told
attendees at Reuters Global Retail Summit.
Questions: Is J.C. Penney positioned better than most of its department
and specialty store competitors to rebound by the fourth quarter of this
year? Do you share Mike Ullman’s optimism about
the Christmas selling season?