Another business dinosaur is thrashing its last - from The Wall Street Journal:
J.C. Penney Struggles to Avoid Same Fate as Sears
J.C. Penney Co.’s sales are falling, its stores are stuck in malls and the turnaround strategy keeps changing. Now, three months after the embattled retailer hired a new chief executive, a handful of senior positions remain vacant.
The series of events is prompting analysts and other industry experts to question whether Penney can avoid the fate of fellow department-store operator Sears Holdings Corp., which filed for bankruptcy and barely staved off liquidation.
“Penney is a broken business,” said Mark Cohen, director of retail studies at Columbia Business School. “They are looking at a very problematic 2019. It’s the mistakes of the past coming home to roost.”
Many factors - Walmart drank some of their milkshake. Online shopping did not help. They could have compensated but did not. Their management was out of touch. Same thing with Sears.
The article goes on to say that problems are also brewing for Macy’s and Kohl’s.
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