JCPenney stock falls below $1 for the first time ever

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New York (CNN Business)As the Dow was on rate for its finest day of the year , and a report revealed American shops had their finest holiday in 6 years, JCPenney’s stock fell listed below $1 for the very first time considering that it began selling 1929.

The 110-year old business hasn’t paid considering that 2010 and its potential customers are bleak. JCPenney is $4 billion in financial obligation with a scrap credit ranking, a sinking money stockpile and no indication of a turn-around.
With couple of buyers concerning shops, JCPenney deals with stock and supply chain has a hard time and no clear marketing strategy or method . The business has actually been required to use high discount rates on clothes to clear its huge stock excess.

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