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.
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(Excerpt) Read more at finance.yahoo.com ...
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.
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.
Shove it up your smelly Obama, Penny’s.
You made your decisions to support politics instead of your stockholders and customers.
Live withit.
I guess that CEO won’t be getting the usual $25 million bonus this year - just $20 million.
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.
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.
AP= associated pedophiles
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.
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.
Penney's adopted some gay friendly policies and used Ellen DeGeneres in their advertising. So, it's not clear how much of their drop in sales might be due to their new pricing strategies and how much is due to boycotts by customers who disagree with their gay friendliness.
The Chick Fil A thing utterly refutes that.
Restaurant was full of teanagers and twentysomethings.
That is what happens when gays design clothing. All you have to do is look at the whorewear geared towards LITTLE GIRLS and young women- shorty shorts, mini skirts that barely cover underwear, midrift tops, halter tops- and it just seems to me that gay men want women to fail. Wasn’t there a situation recently where some store selling children’s clothing offered padding for young girl’s bathing suit tops to give the appearance of budding breasts in a suit designed for a 4-8 year old?
The whole company is responsible for their downward slide. There was not one voice of reason when some idiot said, ‘Let’s gear EVERYTHING toward gays- a gay spokesperson, gay women in the Mother’s Day catalogue, gay men in the Father’s Day catalogue, yea!!! Let’s do it!!’
And then when people protested, people who had spent a lifetime of earnings at the store, the company’s response was to tell the managers to walk away from the customer in mid sentence, leaving them standing alone without even listening to their complaint.
I feel sorry for the workers, but what worth do they really have in a company who has announced that the company is going to replace them with scanners?
Jim Cramer tweets : $JCP—i have NEVER seen a store chain have minus 20 same store sales and survive...
From out vantage point it’s hard to see if the gay thing is the major cause of their problem - most of us are aware of it, but is the rest of the country. One way to tell might be to watch the comments on a more neutral site, like Yahoo.
But I also think that what most of us are saying is that there is a HUGE OPPORTUNITY for a family-friendly company to pull a Chick-A-Fill in this business, but they don’t (maybe due to their gay marketing advisers, who knows).
It’s NOT that most people don’t love homosexuals - many even have family members they love who have taken that train; it’s just that many of us don’t agree with their agenda or their overbearing tactics, or the sin itself - which Penney’s executives have largely chosen to embrace. Now Penneys is getting “unintended consequences” which can be either good or bad. Good for Chik-Fil-A; Bad in the case of Penney’s.
Talbot’s hired a “man” of a certain persuasion about four years ago and he revamped and updated the Talbot’s look. I agree that the quality went down in some areas and the overall looks were terrible. I used to be a 2-3 piece a season buyer and I’ve bought one pair of shoes in the past 9 months (on sale).
I take the surveys for their consumer input and have seen the fall catalogs. There is more old style Talbots in the upcoming collection. I hope they haven’t alienated so many people that the brand goes away.
Malls shuttering in some places, not others. The closest one here is doing fine: just opened a MASSIVE new Von Maur (sp?) anchor department store, opened a new Lego store (prime example of “specialty”), and I can’t think of any closed storefronts beyond the usual turnover. The Chick-fil-a always has 6-8 clerks plus backup staff.
That said, I have to wonder about the viability of classic department stores. A little careful shopping at specialty/boutique stores turns up better products at better deals than be-everything behemoths. Those offending basic sensibilities, tenfold.
The company will now revert to some semblance of normal operations.
I used to buy all my clothes at J.C. Penney. They sell tall clothing, and I am just over 6'5" tall. I am used to online clothing purchases, and JCP often had good products at good prices (tall clothing costs much more than regular sized clothing). However, I have not ordered since the new regime took over. I daresay it is more over the lack of sales than anything. I used to get mailings or emails about taking XX% off an order of $XX.00 or more and this would often prompt me to place an order. Since the change from J.C. Penney to JCP-nothing.
The gay ads probably would not have kept me away on their own; but when you add in the poor retailing strategies, it just the extra push to keep me from biting the bullet and ordering. This kind of failure smacks of nepotism or some other reason (someone sleeping with someone, etc) that is not readily apparent.
I took a shortcut through JCP on my way to someplace else in the mall. I saw NOT ONE CUSTOMER on the upper floor, and just TWO ladies browsing costume jewelry on the lower floor.
This was on a Thursday night at around 8PM.
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