Mall retail anchor JC Penney is yet another victim of the on-line shopping revolution. Note that JC Penney lost 50% of their stock price between early 2007 and the beginning of The Great Recession. It has gone from over $80 per share in early 2007 to under $2 per share today.
And their corporate bonds, once at par in 2010, have swooned to $44.625 today.
Of course, JC Penney has had relatively attroicious earnings per share growth, in part due to on-line sales from competitors and changing consumer tastes.
Yes, American retail shopping malls are getting Bezos’d. Or Darth Malled.