JC Penney's Stock Drops To 97 Cents A Share

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JC Penney's Stock Drops To 97 Cents A Share
The American retail icon's overall stock price has fallen nearly 70 percent this year.
SHOW TRANSCRIPT

One of America's oldest department stores appears to be in financial trouble.

This week, J.C. Penney's stock price dropped below $1 for the first time ever. On Thursday, its stock fell 8 percent to close at 97 cents per share.

Overall, the company's stock price has fallen 68 percent this year and nearly 30 percent in December alone.

The 110-year-old company also reportedly hasn't been profitable since 2010. 

According to analysts, J.C. Penney has $4 billion in debt and a junk credit rating, as well as inventory and supply chain problems. They also say it doesn't seem to have a clear marketing plan.

Additional reporting from Newsy affiliate CNN.