How J.C. Penney Fell From the Top of Retail
J.C. Penney rose to prominence as a national retailer by dressing the middle class for over a century. But analysts say the retailer’s costly shifting strategies have failed to attract the modern middle-class customer, leading the company to declare bankruptcy. PHOTO: RICHARD B. LEVINE/LEVINE ROBERTS/ZUMA PRESS
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Rise and Fall
With technology and consumer tastes changing fast, some companies have failed to keep up. This series looks at the rise and fall of great companies, and their struggle to survive in a rapidly changing economy.
