While CEO Ellison's moves look like good sound decisions, I think that they probably will not save JCPenny aside from a black swan like Amazon collapsing Enron style.
The question has to be, if JCP disappears tomorrow, where do people go? Answer is they go to Old Navy or TJ Maxx for clothes. Amazon could easily make its way into the hotel supply.
This reminds me of when American Apparel got a new female CEO when their founder got fired. She did have a good presence and she spoke of solid ideas, but AA went into bankruptcy thanks to fundamental factors.
If I had seen exclusive JCP branded appliances with some practical nuances, which they are fully capable of doing, I'd be bullish. That might still happen.
