Notice that cNBC is unable to connect the dots. The reporters analyse the three quarters of badly slumping sales with out recognizing a primary cause. JC Penney has strongly embraced the gay lifestyle by choosing to emphasize this very prominently in their advertising. Its sales are plummeting AGAIN.
Penney is one more example of a company taking a controversial social position which which its own customer base is NOT aligned.
Al Lewis, a commentator at WSJ appeared to have understood the misalignment in June, and foresaw the upcoming doom.
Said Al: “Diversity, inclusion, acceptance for all—these are laudable values. The problem is, well, I have never actually met an openly gay person who openly shops at J.C. Penney.”
Perhaps if the company reorganize AGAIN, and comes back under a new name……