JCPenney was once an e-commerce leader. Then the department store made a series of strategic missteps. During its most recent quarterly earnings report, the company posted $3.4 billion in sales, an 8% decrease from the same period a year earlier. Meanwhile, the company owes $4 billion in debt. Now, it's filing for bankruptcy. How did JCPenney get here? Looking at its failed digital strategy helps illuminate some bigger systemic problems.
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