As it struggles with falling sales, J.C. Penney is looking to a new source of revenue: secondhand clothing and handbags
J.C. Penney Co.’s sales fell 9% in its latest quarter and the retailer said Thursday it would start selling second-hand clothes as part of a broader effort to transform itself.
The Plano, Texas-based chain has been reeling from years of changes in its leadership and strategic direction. Penney’s CEO Jill Soltau, who joined the company in October, said the changes had eroded the company’s basic retail practices.The retail industry is undergoing another major shift -- to e-commerce. How did we get here? Photo: Associated Press
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