J.C. Penney’s online sales are booming. Many of its stores are in struggling malls. And sales per square foot are about one-third below levels of five years ago.
Yet despite all that, the resurgent department store’s new CEO, Marvin Ellison, is adamant that J.C. Penney
won’t undertake any wholesale closings of stores in its 1,020-location fleet.. . . more