Unfortunately, the situation with JC Penney is not looking good at the moment. After reporting disappointing earnings for the third quarter of 2018, shares in the company have continued to decline, falling by over 20% in just a few days.
There are several reasons why this has happened, but it seems most obvious that JC Penney's strategy of expanding into new markets and diversifying its product line hasn't been successful.
In addition, there have been rumors of financial problems at other JC Penney stores around the country.
Given all of this bad news, it may be a good idea to sell your shares in JC Penney before they continue to decline any further.
Unfortunately, the store closures that were announced a few months ago have had a significant impact on stock prices. JCPenney currently has a market value of around $2.5 billion, but its share price has fallen by nearly 60% since the closures were announced.
The company is blaming its woes on tough competition from online retailers and changing consumer trends, but it's hard to see how these closures will help matters. In fact, they may do more harm than good - especially given that there are other retail options available in most major cities.
Unfortunately, the situation with JC Penney is not looking good at the moment. After reporting disappointing earnings for the third quarter of 2018, shares in the company have continued to decline, falling by over 20% in just a few days.
There are several reasons why this has happened, but it seems most obvious that JC Penney's strategy of expanding into new markets and diversifying its product line hasn't been successful. In addition, there have been rumors of financial problems at other JC Penney stores around the country.