One Stunning Stat That Puts JCPenney’s Collapse In Perspective

JC Penney woman

JCPenney got clobbered again in Q3 as it trudges along on the road to a potential turnaround under the guidance of CEO Ron Johnson.

Sales fell 27 per cent — worse than what analysts feared.

Fine. We know that JCPenney’s been getting killed throughout 2012, but lets put the collapse into perspective.

Dana Mattioli at the Wall Street Journal has a mind-blowing stat that shows just how far JCPenney has fallen:

Penney’s sales over the first nine months of its fiscal year have fallen by $2.7 billion, nearly equivalent to the annual revenue of department store chain Saks Inc.