Posted on 04/08/2013 2:09:12 PM PDT by abb
‘the woman came in BECAUSE she wants to be able to once again tell her husband how much money she saved’
Isn’t that sexist? :)
What I think about are the many long time JCP employees who were dumped, I mean people I knew who were at the various stores for over 20 years.
As for the survival of the store, I don’t know. Likely there will have to be some store closings along with the sale of some real estate assets. But in the long run, will the former customer base forgive the path the store chose (remembering the arrogant Johnson statement “we have to reeducate our customers”)?
God love you and others that tolerated the situation and stayed as employees.
We’ll see how things fare in the long-term. There’s little doubt Johnson was a terrible CEO, but the reversal may be short-lived.
I honestly don’t think Ellen or the gay agenda thing was the major downfall of JCP. It probably hurt some, but you also see companies who are far more amenable to the demands and notions of the gay agenda (like Coca-Cola) who turn huge profits. So I think it runs deeper than that.
I really think it was primarily a combination of the elimination of sales and coupons, along with a perception in some quarters that Penny’s is an ‘old person’s store’. I don’t know how deep the latter runs, but my nieces and nephews tell me that is the general perception among the under-30 crowd in our area.
“The problem is that JC Penney has been circling the drain for 20 years. The model just doesn’t work. They’ve had their lunch eaten by Walmart and Target on one side and Macy’s on the other. Johnson at least had a vision of doing something different, but it was only an attempt to rearrange chairs on the Titanic.
Penney’s will go the way of Montgomery Ward in a few years, and Sears probably isn’t far behind them. “
You may be right, but when Johnson abruptly terminated all JCP coupons and sales as if JCP had the unchallenged cache of an iPad, it was like dynamiting the engine room of the Titanic right after it struck the iceberg. At that point, JCP instantly lost pretty much all of their shoppers forever, shoppers who understood the old value model but had no reason to believe the new model had value, and therefore moved to stores where they DID understand the value model, and who will never be coming back to JCP, no matter what JCP does now. Obviously, Johnson was a one-trick pony, and his trick destroyed JCP. Equally obvious, the JCP board was, and probably still is, clueless, given the fact that they thought the one-trick pony Johnson was the right guy to run JCP and kept him on as long as they did.
It is just a dead cat bounce.
Amatures buying allowing the pros to make an exit.
They are stuck between walmart and target on one side, nieman and sacks on the other.
THEN to add insult to injury, they have chased away the normal people by going all poofy.
However many women do enjoy “sharing” their success of the deal with their husbands.
Ask me if I care on iota if I'm politically correct or not........
Ullman will hopefully calm the creditors.....but it might be too late to turn this trajectory around....there’s been a lot of damage done by Johnson.
Likely they’ll be a shaking of the board as well in the meetings ahead......
Ullman might at least stabilize the situation...I don’t believe he’s going to remain the man of the hour indefinately...
It remains to be seen what will happen down the road here.
It’s a mighty ship that’s not going to turn fast.
YEs, I think the customer base would come back.....but what they will come back too remains at best uncertain, to say the least.
Employees have a “ray” of hope, it’s hard riding a ship that appears to be sinking....many have left on their own.
Others have their eyes looking.
Stocks turn on a dime...it doesn’t take much to move a stock...However, I think most know it’s going to take more than Ullman’s efforts to turn this around...if it even can be. No matter who takes the lead, or what changes in the board etc.
There’s several options to keep the company from bankruptcy....but how the store fairs in the long run...well, it’s still not going to be the same Penney’s people once knew.
Amazon is airing ads for their new Kindle featuring a man and his “husband”. How’s Amazon doing these days?
Amazon is in effect a monopoly. They use strong-arm tactics to force publishers to agree to their prices. They are squeezing other retailers – offering discounts to people who scanned prices in US brick and mortar stores with its smartphone app and then bought the goods on Amazon, using its rivals’ property as a storefront. Borders is out of business, Barnes and Nobel may not be far behind, and never mind the independent bookstores.
AMZN’s biggest competition is Apple and Google and has been for years. B&N and Borders have been dead or dying for quite a while.
I hope turn around
If they still offering coupons I think I nail JC Penney for clothing and bedroom items
My mom is long time JC Penney customer back in da day she hasn’t been inside Penney oh man when they start this no coupon policy
She hate that with passion LOL!
It is Macy’s after both of them. They thought they had a contract for the brand name. Martha just created a new line and sold it to JCP.
If they can not sell it, by court order, there will be some very empty shelves. Maybe fast re-orders from China? Search for other brands leftovers? YUK!
WOW I was confused on that court case
Thanks for 411 on info
If they loose Martha, don’t sweat it...she is only one of several coming into the Home Dept. at Penneys. Some which are already in the stores.
Macy’s will win this I believe....the law is in their favor...but now there’s another suit against PEnney’s because apparently some stores already have Martha’s stuff out...which went against the court order while they negotiate.
Either or...Ullman’s at the Helm now and moving fast...coupons are on line already...St.John’s Bay is coming back...and you’ll see a host of “familiar” happenings in the days and weeks ahead.
Good to know from an “insider”!
Thanks for that positive information. I have not read any for a whole, LOL.
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