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JC Penney Is Recovering From A Bad Patch

Posted at 7:39 AM, Mar 26, 2014
and last updated 2014-03-26 07:48:02-04

DON’T WASTE YOUR MONEY — Think back a year ago:  Target was the hottest, trendiest discount department store around.

JC Penney was a disaster, with some analysts predicting it might not last another year.

But now, the picture is very different.

2013:  Penney’s Really Bad Year

It was last May when aDon’t Waste Your Money undercover investigation found JC Penney placing higher priced stickers over their original prices.

The story became national news after our report, and was just part of JC Penney’s really bad year. The slick store redesigns didn’t work, sales plunged, and the CEO got canned.

Target, at the same time was every woman’s favorite discount store, with designer goods at Walmart prices.

But this year the tables have turned.

Forbes Magazine says Penney may be the next “Great American Comeback Story,” with sales up as it returns to its humble roots.

Doesn’t That Stink?

And from the “doesn’t that stink” file, Target’s fall from grace.

The massive data breach compromising millions of credit cards left a bad taste in shoppers mouths.

Target income plunged 40% in the last quarter, as nervous shoppers stayed away. If your card was involved you might have said “doesn’t that stink.”

Target’s CEO says the store will work tirelessly to regain the confidence of customers.

Based on recent sales, it has work to do.

The good news in all this turmoil for shoppers is that you can expect more sales this spring and summer, as both chains work hard to regain the consumers they’ve lost the last year or two.

And that way you don’t waste your money.