JCPenney CEO: Working families are struggling to get by as inflation bites
JCPenney CEO Marc Rosen acknowledges that working-class families are facing financial challenges due to inflation and increased expenses, leading to a higher reliance on credit cards and private label brands. Despite the economic difficulties, JCPenney sees an opportunity to capture market share by offering affordable fashion and upgrading its stores. The company remains in a strong financial position and does not currently have plans for major store closures or an IPO.