Tuesday, May 26, 2020

PREIT CEO thinks J.C. Penney can stay alive with a scaled-down format

Chain Store Age
PREIT CEO Joseph Coradino, who several years ago began buying back department store space in the company’s malls and filling them with more viable retail concepts, now thinks we may not have seen the last of J.C. Penney.

“We were encouraged to see they worked through their Sephora issues and believe there is a place for a scaled-down Penney’s, so we look forward to working with them,” Coradino said during PREIT’s first-quarter earnings call on Thursday. . . . more