Furthering turnaround efforts, JCPenney announced it will reinvest more than $1 billion into the business by fiscal year 2025 to “elevate the customer experience and gain operating efficiencies.”

The department store operator said its self-funded reinvestment builds on the significant progress made in FY22, including the launch of JCPenney Beauty, new product collaborations, completed store refreshes, and improved digital shopping. JCPenney will also introduce a reinvigorated customer strategy, “Make It Count.”

Strategic Reinvestment in Growth
In building on key transformation across its business model, JCPenney intends to make reinvestments to strengthen the customer experience through the following initiatives: 

  • “Highlighting the value it offers across product categories through a more seamless shopping experience and increased customer personalization.” The company will continue upgrading its website and mobile app, including improved search functionality and product detailing, customer product reviews and customized product and styling recommendations.
  • To make the in-store experience more inviting and productive, the company’s more than 650 stores will undergo varying updates, including enhanced store look and feel, improved technology and employee tools. A new POS system will better integrate with inventory, and upgrades to its in-store Wi-Fi networks will provide faster, more reliable connections for customers and employees. JC Penney has refreshed over 100 of its stores.
  • Upgrading merchandising tools and supply chain operations so customers “can shop the right products at the right place and at the right price.” New inventory management systems, among other tools, will enable greater accuracy in decision-making and efficiency in execution, allowing JCPenney to cater to customers, fulfill orders faster and reduce purchase delivery times. Enhanced tools will also scale JCPenney’s ability to provide customized and localized product assortments in tune with local community preferences and trends.

“JCPenney is on strong financial footing and is steadily increasing relevance and frequency with our core customers,” said Marc Rosen, chief executive officer of JCPenney. “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.”

Photo courtesy JCPenney