JCPenney CEO Marc Rosen joins Morning Brief to share insights into the company’s strategic approach and consumer engagement as the holiday shopping season takes shape. "We’re actually really encouraged as we’re going into the Black Friday Weekend," Rosen states, highlighting that consumer spending trends have been strong since the back-to-school shopping weekend. He emphasized a significant expansion of their rewards program, noting they now have twice the number of customers carrying cash pass rewards compared to previous holiday seasons, "so we feel really good about that". The retail giant has implemented a multifaceted promotional strategy, including Thursday night football discounts and engagement ring promotions. "What we’re seeing is that when we put those incredible values out there [and] great quality products for the customer, the traffic trend is strong, and sales are strong with it." The company is currently focusing on evolving the customer experience. "We’re focused right now on customers and customer traffic," he explains. And we’re focused on really emphasizing the amazing value and the fashion that we have in our stores," highlighting a billion-dollar reinvestment in the business to enhance physical and digital shopping experiences. "And we’re seeing the results of that in the changing customer trajectory and traffic," Rosen notes, confidently pointing to a clear path to profitability. Rosen also notes that the company’s focus on value goes beyond just pricing. "Value is not just about price," he says. "Value is about amazing fashion, unexpected fashion, it’s about great quality products. " He highlights that social media users are also now pointing to JCPenney as a store where you can find great fashion at a bargain. Regarding the incoming Trump administration and the impact their tariff policy could have on operations, Rosen states, "We’re waiting to see what comes to fruition." To watch more expert insights and analysis on the latest market action, check out more Morning Brief here.
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