J.C. Penney doled out more detail about its plans to try to turn things around at the struggling department store chain. But the reality is in the numbers. And Penney’s sales are still falling, as the retailer continues to lose money.
Penney only has so much time to try to win customers back, and to keep existing ones coming to its shops. It’s not as if shoppers don’t have plenty of places to choose from for their clothes, home furnishings and makeup today, including online. And traffic continues to drop off at America’s outdated shopping malls.
Penney is calling for sales to be down 7% to 8% in fiscal 2019. It hasn’t reported a quarterly sales gain since the 2017 holiday season. It has…