J.C. Penney’s Future is About to be Shared With the Entire World

J.C. Penney no doubt had a challenging 2013 as the failed strategies of its prior CEO Ron Johnson weighed heavily on its financials. The worst decision: raising prices on J.C. Penney’s low to middle income shoppers. However, since current J.C. Penney CEO Mike Ullman returned in April 2013, the company has been focusing on breathing life into its business. More private label brands are in stock. The deals are back. Importantly, consumers have returned as well, and so has stronger sales and earnings trends. With Ullman having stabilized the business, J.C. Penney’s long-awaited analyst day will shed light on its future, such as how many stores will be closed in coming years and what new brands will find their way into the store. Brian Sozzi reports from the event being held in New York City today.