A dire Wall Street Journal report detailing JCPenney's (JCP) grim prospects have sent the stock down by more than 7%.
The story notes that the retailer's executive suite is filled with openings, including vacancies for chief merchant, chief customer officer and head of planning and allocation. A turnaround plan for the embattled 110-year old company remains unclear.
If things don't get in gear soon, JCPenney could turn into its bankrupt rival Sears.
Rival retailers are also down on Tuesday. Gap (GPS) fell 4% and Macy's (M) and L Brands (LB) each dipped 3%.
Shares have rebounded. If there's a glimmer of good news for JCPenney, is that its shares are now trading above $1. The retailer closed at 97 cents per share in late December, but is now hovering around $1.22 per share.