Retailer JCPenney announced it’s going to spend more than $1 billion to improve its stores and online shopping business. JCPenney CEO Marc Rosen tells Yahoo Finance Live that the company has been investing in its product portfolio and reinvesting in its private label brands. Rosen says their customers have been more “discrete” about their spending, which could help their in-house brands. “Our core customer is America’s working families,” Rosen says, adding they are looking for accessible fashion “without really breaking the bank.” Rosen claims that so far, the strategy seems to be working, “we’re seeing that our customers are visiting us more frequently.”
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