Over the holidays, a time of consumer spending strength that lifted most, a few unlucky retailers — including Tiffany & Co., Macy's and Nordstrom — suffered disappointing numbers. J.C. Penney was also in that sad group, as its holiday comps tumbled 3.5% (5.4% without a sales timing shift), but it's facing an even more alarming truth — that its seasonal weakness may be less of a disappointment only because it wasn't much of a surprise.
It's been a long haul for the 110-year-old discount department store, which just recently welcomed yet another new chief executive, former Joann chief Jill Soltau, after Marvin Ellison left last summer to take over at Lowe's. . . . more