Why 2017 Was a Year to Forget for J.C. Penney Company, Inc.

Why 2017 Was a Year to Forget for J.C. Penney Company, Inc.

2017 was an ugly year for the department store industry across the board, but J.C. Penney Company, Inc. (NYSE: JCP) had it worse than most. Shares of the venerable chain are down 63% with just over a week left in the calendar.

Expectations were high heading into the year, as the company seemed to be making progress in recovering sales and profits following the disastrous tenure of former CEO Ron Johnson in 2012. However, a series of disappointing earnings reports and growing concerns about the so-called "retail apocalypse" crushed the stock. Here's the year that was for J.C. Penney.

Image source: J.C. Penney.

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Source: Fool.com