JCPenney said this week that it plans to spend more than $1 billion by the end of 2025 to revive the storied but troubled 121-year-old department store chain, The Associated Press reported.
This investment is poised to become the next chapter in JCPenney's proverbial cat with nine lives survival tale, but experts who spoke with GlobeSt.com say that the $1 billion isn't enough to make it thrive, and it first must solve its inventory problems.
Much maligned for years, the money will be used to remodel its stores, upgrade its online shopping site and app, and make its supply network more efficient so that online orders are delivered more quickly.
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