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Penney records bigger-than-expected loss in 2Q
Associated Press ^ | August 10, 2012 | Anne d'Innocenzi

Posted on 08/10/2012 3:22:18 AM PDT by abb

J.C. Penney Co. is reporting a bigger-than-expected loss and plummeting sales, as its customers continue to be turned off by a new pricing plan that gets rid of hundreds of sales in favor of every day lower prices.

It also withdrew its profit guidance for the year.

The department store, based in Plano, Texas, says that it lost $147 million, or 67 cents per share, in the quarter ended July 28. That compares with a profit of 14 million, or 7 cents per share.

snip

(Excerpt) Read more at finance.yahoo.com ...


TOPICS: Business/Economy; Culture/Society; Extended News; News/Current Events
KEYWORDS: corporateliberalism; culturewar; gaceypenney; homosexualagenda; jcp; jcpenny; lavendermafia; movealong; nothingtoseehere; pinkjournalism; retail; samesexmarriage; thisthreadisgay; unexpected
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This just in...
1 posted on 08/10/2012 3:22:25 AM PDT by abb
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To: abb

http://www.reuters.com/article/2012/08/10/jcpenney-results-idUSL2E8J8CS020120810?feedType=RSS&feedName=marketsNews&rpc=43
J.C. Penney same-store sales plunge 21.7 percent

http://finance.yahoo.com/news/j-c-penney-company-inc-100000548.html
J. C. Penney Company, Inc. Reports 2012 Second Quarter Results


2 posted on 08/10/2012 3:24:29 AM PDT by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: abb

Gosh, Ya think it might be because they love the gays so much, and most people don’t!


3 posted on 08/10/2012 3:25:19 AM PDT by siamesecats (God closes one door, and opens another, to protect us.)
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To: siamesecats

Note that the queer ads were not mentioned. But then, it’s AP, what do you expect?


4 posted on 08/10/2012 3:33:47 AM PDT by OldPossum
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To: abb

“customers continue to be turned off by a new pricing plan”

...AP is doing thier darndest aren’t they!?


5 posted on 08/10/2012 3:36:09 AM PDT by albie
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To: abb

Maybe there aren’t enough gays to support them after all.


6 posted on 08/10/2012 3:38:47 AM PDT by Iron Munro ("Jiggle the Handle for Barry!")
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To: abb

Maybe they should co-locate fast food restaurants in their stores - like WalMart does.

I think Chick-Fil-A would be a good choice.


7 posted on 08/10/2012 3:41:25 AM PDT by Iron Munro ("Jiggle the Handle for Barry!")
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To: abb

The pro-sodomy market just isn’t bringing in the revenue.


8 posted on 08/10/2012 3:42:07 AM PDT by SoFloFreeper
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To: abb
"... as its customers continue to be turned off by a new pricing plan...

"... as its customers continue to be turned off by a new pricing plan the company's pandering to sodomites and other lowlife filth..."

There; fixed it.

9 posted on 08/10/2012 3:47:44 AM PDT by carriage_hill (Harry Reid [PERVERT-NV] has Vickie-the-goat in lingerie and stiletto heels, tied-up in his office.)
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To: abb
Gay C Penney
10 posted on 08/10/2012 3:48:10 AM PDT by tobyhill (Obamacare, the final nail in the US coffin.)
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To: albie

Sad thing is,mgmt at jcpenney probably believe it.Blame the sale ads,not the gay friendly environment


11 posted on 08/10/2012 3:51:34 AM PDT by Craftmore
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To: abb

Links to stories about Penney's gay friendly catalogs:

J.C. Penney Catalog Features Gay Couple With Child, Freakout ...   

JC Penney Goes Gay Again! Two Dads With Kids Featured In June ...   

Gay Dads in JC Penney's June Catalog | Care2 Causes   


 

12 posted on 08/10/2012 3:53:11 AM PDT by preacher (Communism has only killed 100 million people: Let's give it another chance!)
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To: abb

Thanks for posting this. What’s happened to the chain is sad.

Now, I wonder how many millions of dollars Ron Johnson’s going to be rewarded with for his failures.

I believe their CFO exited with $10 million after 15 only months in the position.


13 posted on 08/10/2012 3:56:38 AM PDT by Nickname
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To: abb
GOD is not pleased penney... and I am enjoying your death spiral. Where are the gay armies that keep your profits up penney?
14 posted on 08/10/2012 4:07:26 AM PDT by LibLieSlayer (Don't Tread On Me)
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To: abb

I guess Ellen isn’t really working out as a spokeswoman... or spokesthing.


15 posted on 08/10/2012 4:10:40 AM PDT by Rummyfan (Iraq: it's not about Iraq anymore, it's about the USA!)
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To: abb

I don’t know about the pricing plan, but when I tried to find a pair of tan cotton slacks, they didn’t have any. I had to go to Belk and pay more than I would have at Penney’s, “back in the day.”

Why go in a store that doesn’t have what you want?


16 posted on 08/10/2012 4:10:51 AM PDT by Tax-chick (If you can't say anything nice, have some more wine.)
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To: All

Gay C Fanny won’t last through 2013..


17 posted on 08/10/2012 4:14:31 AM PDT by newnhdad (Where will you be during the Election Riots of 2012/2013?)
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To: newnhdad
Gay C Fanny won’t last through 2013..

Hey Like Washington Mutual Bank they went down PC

18 posted on 08/10/2012 4:17:08 AM PDT by scooby321 (AMS)
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To: abb

We have 4 clothing stores within a half hour drive. JCP was the premier store but it’s now a ghost of its former self. Then we have Walmart, Salvation Army and Goodwill. We buy most of our clothing by mail order.


19 posted on 08/10/2012 4:19:14 AM PDT by NewHampshireDuo
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To: abb

We have a Kohls and Penney’s in our local mall. Penney’s is empty, Kohls is busy. The upside in the fall of Penney’s for our family has been that Kohls seems to have doubled down on sending coupons and having sales. Their prices are in fact better.

Gay away JCP.


20 posted on 08/10/2012 4:20:03 AM PDT by IamConservative (Well done is better than well said. - Ben Franklin)
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To: OldPossum

The queer tie in is not the reason for the decline. The reason for decline is that the now fired CEO threw out all the rules of retail sales painfully learned over the life of the company. By standing retail on it’s head he lost sales and profits.

The company will now revert to some semblance of normal operations.


21 posted on 08/10/2012 4:20:41 AM PDT by bert ((K.E. N.P. N.C. +12 ..... Present failure and impending death yield irrational action))
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To: abb
J.C. Penney? Are they still around? I thought they went bankrupt.
22 posted on 08/10/2012 4:20:53 AM PDT by 2001convSVT (Going Galt as fast as I can.)
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To: abb

Come on, sodomites...rally for the cause! How about a ‘J. C. Penney’s Appreciation Day’? So the Starbuck’s one crapped out...that’s no reason to give up. May I suggest the Friday after Thanksgiving? Pack (so to speak) the stores with queers from the coast to coast, and get those registers ringing...


23 posted on 08/10/2012 4:23:11 AM PDT by who knows what evil? (G-d saved more animals than people on the ark...www.siameserescue.org.)
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To: abb; mickie; flaglady47
Please let's keep our eyes on the ball. I'm sure many freepers have noticed that their local malls are becoming ghost towns with stores shuttering left and right due to no customers. In my area we also have more and more deserted strip malls that are now 100% devoid of the smaller shops and stores that were open and operating a year ago.

It's not only JCP, but other mall anchor department stores that are virtually bereft of shoppers all day long especially on week days.

Some empty mall stores that were formerly bustling with customers are now rented out to discounters, fly-by-nights selling cheap Chinese crappioli as well as flea market-type vendors.

The few customers that can be seen in the two Penney's within driving distance of me probably are totally unaware of the chain's gay policy. So let's keep our lazer beam on the main cause of the collapse of businesses in our country.....it's the economy, stupid. This is how we're going to bring down the Obama administration, not with a plethora of divisive side issues as Obama loves to have us concentrate on.

In the case of JCPenney, the gayness policy in actuality plays but a small part of the company's coming blackout. The simple fact is that no one is spending any discretionary money any more. They're holding on to it.

Leni

24 posted on 08/10/2012 4:24:02 AM PDT by MinuteGal
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To: MinuteGal

You are right. My city of 40,000 had two malls. The only thing left in one is a very samll Sears store. The other larger mall is half empty. It contains a Penneys and some other no name places. There is no reason to go in there except for the Hallmark store.


25 posted on 08/10/2012 4:29:44 AM PDT by caver (Obama: Home of the Whopper)
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To: Tax-chick
Why go in a store that doesn’t have what you want?

My wife and I were in the local Penny's a few months ago. After looking around for a while, I finally asked her "Who is buying this stuff?" Their clothes just looked weird to me or at least not geared to the older generation. So, I started looking at the younger people walking in the mall and it sure didn't look like they were wearing the Penny's junk either. It seemed like Penny's was more out of touch than just the gay thing.

26 posted on 08/10/2012 4:30:58 AM PDT by MulberryDraw (That which cannot be paid, won't be paid.)
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To: abb
...as its customers continue to be turned off by a new pricing plan that gets rid of hundreds of sales in favor of every day lower prices.

Its customers were not turned off by the new "gay friendly" ad campaign the company recently aired as many claim. /propagandist impression

27 posted on 08/10/2012 4:31:18 AM PDT by philman_36 (Pride breakfasted with plenty, dined with poverty, and supped with infamy. Benjamin Franklin)
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To: OldPossum
Its a demographic thingy.

Young people support gay rights while old people oppose gay rights.

Young people spend more money on clothes than old people do.

Likewise with fast food and Chick fil a, young people spend more money on fast food than old people do.

28 posted on 08/10/2012 4:32:35 AM PDT by Ben Ficklin
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To: Craftmore

Barney Frank and his buddies will be buying some new thongs, and the stocks will probably spike.


29 posted on 08/10/2012 4:38:31 AM PDT by rovenstinez
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To: MulberryDraw

They used to have a good selection of sensible outfits for middle-aged women, at a great price if you waited for the sales, but recently, I haven’t been able to find anything.


30 posted on 08/10/2012 4:39:13 AM PDT by Tax-chick (If you can't say anything nice, have some more wine.)
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To: Tax-chick

The term ‘mall anchor’ has shifted - it now matches the nautical usage.

I understand economics and cost structures, but retailers are circling the drain with their product offerings. We have moved beyond American designs made in China to Chinese designs made in China, where tatty, ill-fitting, poorly-cut and short-lifespan clothing would make all buyers look like they’d purchased knockoff gear from an Asian street market.

They are desperate to portray this rubbish as fashionable, but don’t we all have a threadbare t-shirt with a long-forgotten band logo folded up somewhere in the back of a closet? Why do they think we will pay $25 for a ‘new vintage’ model? Moreover, why are they trying to revive the 70s, the decade that taste forgot?

Brands like Gap, Lands End and others that built their reputation and following on quality goods and word of mouth have squandered these precious advantages.

Like broadcasting, the choices made by buyers living and working in the dysfunctional Manhattan closed loop do not translate to the rest of America. The father of two in St Louis is rather unlikely to seek the same clothing that a rail-thin, chain-smoking, coke-sniffing Euroweenie wannabe would favor yet the Euroweenie’s choices are farmed out across the country.

The papers rely, as usual, on stating the obvious about consumer confidence and retailer woes about rent, Internet competition etc. They never get round to completing the logical circle i.e. provide some viable choices and business may return.


31 posted on 08/10/2012 4:40:51 AM PDT by relictele
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To: abb

I find myself thinking there’s some accidental/partial truth in this story. Where I work currently, we have standard admission rates that are two bucks lower than our competition across town, but we offer no deals or specials as a tradeoff. Augusta being a military town, we get a lot of walk-ins and calls asking if we offer a military discount. When I explain that no, we don’t, because our prices are already lower than theirs WITH the discount, I get told that “We aren’t coming back”. Same thing with offering no food deals with admission (which you generally only think you’re getting a deal on) or using quarters instead of tokens (you lose money on tokens). Now, obviously those aren’t the only reasons JCP is declining, but there you are.


32 posted on 08/10/2012 4:41:38 AM PDT by arderkrag (ABOs are Romneybot trolls. LOOKING FOR ROLEPLAYERS. Check Profile.)
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To: abb

The completely lost our business when they went all out for the gay agenda.


33 posted on 08/10/2012 4:46:42 AM PDT by SumProVita (Cogito, ergo...Sum Pro Vita. - Modified Descartes)
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To: relictele

Talbots used to be a civilized place to buy women’s clothes. Now the quality, cut and fit is on par with Target. I don’t see Talbots selling anything that isn’t deeply discounted.


34 posted on 08/10/2012 4:51:33 AM PDT by Belle22
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To: abb
Read a great quote today where an expert was being asked why the stock market continued to go up in light of lackluster results and bad technical indicators. His response:

The US is still the best looking horse at the glue factory.

Now, if we can just get rid of Obozo...

35 posted on 08/10/2012 4:51:54 AM PDT by econjack (Some people are as dumb as soup.)
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To: Iron Munro
Maybe there aren’t enough gays to support them after all.

Heheheh, 'ya think! I also quit shopping with their business and I also told some of my friends about them as well and their newly targeted shopper. Good luck Pennys.

36 posted on 08/10/2012 4:58:34 AM PDT by Ron H. (Ahh, how's that multi-culturism thing working out for you these days?!)
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To: abb

Good!


37 posted on 08/10/2012 5:05:42 AM PDT by freeangel ( (free speech is only good until someone else doesn't like it)
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To: Tax-chick

Their quality has plummeted. I have always bought Arizona jeans for my son. This season’s jeans are horrible. The denim is too thin. They will wear out in a couple of months.

They have also dropped the quality on their t- shirts. I used to buy St. John’s Bay tanks, t’s, and long sleeved crew necks for myself. I looked at the new ones and they are MUCH thinner this year.

I’m just glad that my Macy’s brought back Karen Scott. I wasn’t sure I’d have ANYWHERE to buy clothes this year.


38 posted on 08/10/2012 5:07:48 AM PDT by mouse_35 (Watergate didn't come with a body count. Impeach Holder now!!!)
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To: Tax-chick

Their quality has plummeted. I have always bought Arizona jeans for my son. This season’s jeans are horrible. The denim is too thin. They will wear out in a couple of months.

They have also dropped the quality on their t- shirts. I used to buy St. John’s Bay tanks, t’s, and long sleeved crew necks for myself. I looked at the new ones and they are MUCH thinner this year.

I’m just glad that my Macy’s brought back Karen Scott. I wasn’t sure I’d have ANYWHERE to buy clothes this year.


39 posted on 08/10/2012 5:07:48 AM PDT by mouse_35 (Watergate didn't come with a body count. Impeach Holder now!!!)
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To: abb
pandering to the filthy 1% is not good for the bottom line...
40 posted on 08/10/2012 5:11:02 AM PDT by Chode (American Hedonist - *DTOM* -ww- NO Pity for the LAZY)
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To: abb
J.C. Penney Co. is reporting a bigger-than-expected loss and plummeting sales, as its customers continue to be turned off by a new pricing plan that gets rid of hundreds of sales in favor of every day lower prices.

Yeah it has nothing at all to pandering to the 2-3% of the population that identifies it self as gay, or promoting homosexuality with it's ads and a gay spokes person. Nah couldn't be that.

41 posted on 08/10/2012 5:11:17 AM PDT by Hope for the Republic (The 1st amendment is guaranteed by the 2nd amendment.)
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To: MinuteGal
There is something going on at JC Penney that goes far beyond the general economic sluggishness.

Sales tumbled almost 23 percent to $3.02 billion. Revenue at stores opened at least a year fell 21.7 fell, worse than the 18.9 percent drop in the first quarter.

Retail sales and the economy in general are no where near those dismal results. A 23% drop in sales is a disaster on a scale seldom seen in so short a period of time.

42 posted on 08/10/2012 5:15:05 AM PDT by Will88
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To: abb

Shove it up your smelly Obama, Penny’s.

You made your decisions to support politics instead of your stockholders and customers.

Live withit.


43 posted on 08/10/2012 5:19:29 AM PDT by Da Coyote
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To: abb

I guess that CEO won’t be getting the usual $25 million bonus this year - just $20 million.


44 posted on 08/10/2012 5:19:37 AM PDT by New Jersey Realist (America: home of the free because of the brave)
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To: abb

That 1.7% homosexual population in the U.S. needs to support jcp, Target, Homo Depot and all the other homosexual-friendly retailers. Normal families will find alternative sources for our homes.


45 posted on 08/10/2012 5:21:24 AM PDT by txrefugee
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To: mouse_35

It seems like the fabrics for everything are very thin this year. The shirts in the stores are embarassing - maybe people think it’s “sexy,” but I’m seeing every cellulite cell clearly defined.


46 posted on 08/10/2012 5:25:40 AM PDT by Tax-chick (If you can't say anything nice, have some more wine.)
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To: OldPossum

AP= associated pedophiles


47 posted on 08/10/2012 5:26:30 AM PDT by Sir Francis Dashwood ("Arjuna, why have you have dropped your bow???")
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To: siamesecats
I had to read this a few times before it dawned on me..
“its customers remain confused by the new pricing strategy that ditched hundreds of sales in favor of every day lower prices.”
Seems to me like their customers (mostly woman I assume) won’t pay $100 for a pair of jeans unless it’s being marked down from $200 and on “sale”. Never mind the fact that the “original” price was only set to make the sale price look like a barging. LOL… got to love retail. Not sure what this all has to do with gay people. Maybe I missed some news.
48 posted on 08/10/2012 5:31:02 AM PDT by chaos_5
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To: Tax-chick

If you haven’t discovered Duluth trading company for clothes that last, you should. We’re not talking high fashion, but work clothes. I have no idea of their politics which might be a good thing.


49 posted on 08/10/2012 5:34:05 AM PDT by listenhillary (Courts, law enforcement, roads and national defense should be the extent of government)
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To: abb

I use to be a die hard J.C. Penney shopper but they changed for the worse (5 years ago or so) and alot of people noticed.

Too bad they don’t get why they aren’t liked anymore.


50 posted on 08/10/2012 5:35:53 AM PDT by submarinerswife (Insanity is doing the same thing over and over, while expecting different results~Einstein)
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