JCPenney Details $1B Upgrade Plan

JCPenney (Plano, Texas) has unveiled plans for a $1 billion, self-funded reinvestment plan and customer value proposition that it says are aimed at fueling long-term growth and increasing customer loyalty and frequency. A major part of the strategy, slated for completion at the end of the department store’s 2025 fiscal year, involves upgrading its stores.

“Every visit to JCPenney should be worth the trip,” the retailer said in a news release. “To make the in-store experience more inviting and productive, the company’s more than 650 stores are undergoing varying updates, including enhanced store look and feel, improved technology and associate tools and physical upgrades… More than 100 stores have already been refreshed.”

The effort will also involve upgrading the functionality of the chain’s website and app and optimizing its merchandising and supply chain operations.

“JCPenney is on strong financial footing and is steadily increasing relevance and frequency with our core customers,” said CEO Marc Rosen. “We are poised for continued growth and know that the surest path to success is by focusing on our customers. That’s why we are wholly committed to serving hardworking families across America with the attention, value, quality, choice and experience they deserve. Our customers are passionate, resilient and tireless in their efforts to make every moment count. We’re here to help them do that every day.”

The company is also introducing a reinvigorated customer strategy, called “Make It Count,” which is designed “to remind customers that JCPenney stands with them, matching their efforts to make every day, dollar and date night count,” it said.