COVID-19 Impact on JC Penney Co Inc. and its future prospects

Summary

The post coronavirus (COVID-19) company impact report analyses the impact of the COVID-19 outbreak on JC Penney Co Inc. & its future prospects.

JC Penney group’s financial troubles escalated during the COVID-19 pandemic and the sudden halt of revenue from stores due to the lockdown forced the group to file for bankruptcy protection in May 2020.

JC Penney is estimated to register sales of USD10.7 bn in 2020, a fall of 15% over 2019 sales.

Scope

– JC Penney is expected to have a poor 2020, with sales expected to drop to USD10.7 bn from USD12.6 bn in 2019, a decline of 15% y-o-y.
– The retail group subsequently announced the permanent closure of 242 of its 846 US stores, as part of financial restructuring requirements.
– JC Penney filed for bankruptcy protection in May 2020 at U.S. Bankruptcy Court for the Southern District of Texas

Reasons to Buy

– Use our revised 2020 forecast for JC Penney Co Inc. to understand how it will perform this year.
– Use our charts to review how JC Penney Co Inc.’s sales are split by region globally and how these regions have been impacted by COVID-19.
– Use our in-depth analysis to review how JC Penney Co Inc. has responded to COVID-19 and how this will affect its performance.