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J.C. Penney now also a resale shop to cut losses

08/16/2019 3:12 pm ET
JC Penney

Photo: Mary Altaffer/AP

J.C. Penney—a U.S. icon with roots back to 1902—has just announced they’ll now sell used clothing online and in 30 stores soon.

The move was made after receiving a delisting warning from the NY Stock Exchange for shares falling below $1.

After the global economic crisis of 2008 and Amazon’s ascent, J.C. Penney has been among the worst of the retailers hit with changing consumer behavior.

The company will partner with thredUP, a resale website initially, but plans to open a resale shop in specific store locations soon.

More at ABC

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