It's become a familiar routine that we've now seen play out all too often: A once-stellar mall retailer falls on its sword and announces a flurry of store closures.
We watched it happen to Sears and Macy's, to name just two, and now its happening to JCPenney.
The latter says it will shutter 140 of its stores and two distribution centers in the coming months.
JCPenney hasn't yet revealed which stores it's going to close, though an official announcement is expected within days.
But Morningstar Credit Ratings thinks it already knows...
On the radio show, Clark explained that the retailers on this list are closing stores because they’re not giving people what they want in terms of things like price, fashion and selection.
As a result, shoppers are increasingly turning to online and discount merchants for better deals.
If a traditional department store wants to survive in this challenging retail environment, Clark said they’ll have to be less traditional when it comes to pricing.
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