JCPenney's turnaround strategy backfired: Can the department store survive?

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Despite JC Penny's best efforts to pull a turnaround and gain costumer's loyalty back, the department store's latest drop in sales may be the last straw.

According to Business Insider, JC Penny is running out of time to bring people back into their store. Especially, with the latest report claiming store sales are down 32 percent.

Consumer service expert and bestselling author, Grant Cardone spoke to Business Insider about the store's predicament.

Cardone explained that JC Penny's low price promise won't bring customers back into the store, and insisted the company needs to work on its customer service strategy.

Cardone went on to compare the store's marketing efforts with those of Target and added that JC Penny's "lowest price" campaign, though smart, isn't effective because it's unsustainable.

According to Cardone, JC Penny's only hope is to improve their customer service by investing in employee training, compensation and culture.