US Retailer J.C. Penney Cut 43,000 Jobs Last Year

Department stores such as J.C. Penney experienced a dismal holiday shopping season in the fourth quarter, and the downward trend has continued in the first quarter of 2013. Competitors Macy’s, Target, Kohl’s, and Nordstrom all reported significant sales declines over the peak Christmas shopping period, including during the post-Thanksgiving “Black Friday” sales events.  (Can you see the green-shoots?)