Three reasons 2016 may be one of J.C. Penney’s best years yet

Leadership and business strategy shakeups inside J.C. Penney Co. Inc. (NYSE: JCP) in 2015 might lead to the company’s best year since 2011.

Perhaps the Plano retailer’s biggest change this year was a leadership transition from former CEO Mike Ullman to current top executive Marvin Ellison, who took over the position in August. Ellison joined J.C. Penney in November 2014 as CEO designee before taking over the top spot.

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J.C. Penney CEO Marvin Ellison predicts the company will reach 1.2 billion in earnings before interest, taxes, depreciation and amortization by 2017.

Since taking over, Ellison has worked to shift the retailer’s sales strategy. While the company operates 1,020 department stores, Ellison is diversifying beyond brick and mortar, emphasizing omnichannel, which refers to a customer’s ability to buy a company’s products by multiple methods, including online and in stores. Continue reading

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