January 11th, 2019
Brick and Mortar: JC Penney To Close More Stores
Making the headlines this week is more news concerning the demise of yet another set of brick and mortar stores – with retailer JC Penney planning to close even more stores amid slumping sales. This is further proof that brick and mortar retailer who fail to adapt and capitalize on the online shopping paradigm shift. JC Penney experienced an underwhelming holiday season.
Between that and a sharp downturn in sales during the third quarter of 2018, it’s anticipated that JC Penney could close anywhere from 20 to over 100 stores. I feel terrible for all the workers who will obviously be adversely affected by these store closings – but at the same time I see this as yet another reason why people need to develop a Plan B with the UnFranchise Business. Residual income sure is a great way to offset any economy!!