As the holiday shopping season quickly approaches, JCPenney CEO Marc Rosen joins Asking for a Trend to break down the company's turnaround plan as it seeks to recapture consumers.

Over a year ago, JCPenney announced a $1 billion self-funded reinvestment in the business, which Rosen says is now "showing up for consumers in a lot of really exciting ways." He notes that about 133 stores have undergone remodels, which include a centralized checkout, refreshed store, new fitting rooms, and new technology to improve the shopping experience.

In addition, the company has also improved its online store, allowing customers to find products and get to checkout easier. JCPenney has also strengthened its supply chain, which gets products to customers quicker. The company has leveraged technology in its supply chain to ensure it has "the right merchandise in the right place for the consumer, whether that's in-store or online in our distribution centers."

JCPennney has also zeroed in on its marketing, kicking off its brand platform Make It Count and reintroducing its rewards program. Rosen notes that the rewards program has put roughly $500,000,000 "back into the pockets of consumers." He is confident that with the program in place, JCPenney could see about twice as many customers receiving rewards than in 2023, which will ultimately drive more sales during the 2024 holiday shopping season.

Rosen explains that JCPenney's customers are "America's diverse working families," who, given the current economic conditions, are increasingly seeking value. He views value as broader than just price: "I think price is a component of value. But for our customer, quality is also really important, and making sure that they have things that are long-lasting and things that are fashionable. So I think it's fashion, it's quality, and it is price that all go together to do that."

Watch the video above to hear what Rosen says about potentially relisting JCPenney on the New York Stock Exchange.

To watch more expert insights and analysis on the latest market action, check out more Asking for a Trend here.

This post was written by Melanie Riehl