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Amid store closures, JCPenney refocuses on its private-label fashion business
&#;Every retailer is really trying to figure out where to differentiate the relationship they have with the customer, which was traditionally built on location and store traffic.
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The best way to do that has been private label,&#; said Matt Sargent, svp of retail at retail consulting firm Magid.
For JCPenney, the focus on denim is a play to put the customer first and, as a result, drive sales.
In JCPenney&#;s third-quarter earnings, the company reported that total net sales in the third quarter decreased about 10% year over year, from $ billion to $ billion. Comparable store sales dropped % in the same quarter. The retailer closed about 24 stores in and plans to close an additional six as of January.
JCPenney already has a pretty sizable assortment of private-label brands, including Liz Claiborne, St.
John’s Bay, Arizona and Worthington. The company does not break out private-label sales. The last owned
