Retailing at the Crossroads... Retail wizard J C Penney would have been confounded by the tightrope-walking required in today’s world of retailing. He likely never dreamed of 140 JCP stores closing in one fell swoop. Onward/outward/upward marked his insight. He credited a strong commitment to advertising for much of his chain’s success. He was often saddened, however, believing that half of his advertising budget was misspent.