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J.C. Penney files for bankruptcy as coronavirus pushes retailer over edge
Fox Business ^ | May 15 2020 | James Leggate

Posted on 05/16/2020 12:11:10 AM PDT by knighthawk

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To: knighthawk

I haven’t bought anything at JCP since their Homo & Pedophile days started, probably 15 years ago.


41 posted on 05/16/2020 7:54:12 AM PDT by CodeToad (Arm Up! They Have!)
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To: knighthawk

Not sure about J. Crew, but I distinctly recall reading that Needless Markup and J.C. Dollar were both about to file Chapter 11 back in December.

Does blaming their woes on the Kung Flu make it easier for them to steal money from the public to keep their executives well paid?


42 posted on 05/16/2020 8:05:13 AM PDT by Ratman0823 (2020 Logic: We all stand together when we all stand apart!)
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To: Wuli

Avoiding malls also allows shoppers to avoid the shootouts in the food court over drug or Air Jordan deals gone wrong, or getting mugged and carjacked.


43 posted on 05/16/2020 8:12:50 AM PDT by Cecily
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To: glock rocks

Indeed their first step on the slippery slope.


44 posted on 05/16/2020 8:14:39 AM PDT by Vaduz (women and children to be impacIQ of chimpsted the most.)
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To: Rock N Jones

What on earth are you talking about?


45 posted on 05/16/2020 8:16:07 AM PDT by Spktyr (Overwhelmingly superior firepower and the willingness to use it is the only proven peace solution.)
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To: CodeToad

If it was 15 years ago, that was well before they began catering to potential gay shoppers in 2012 (note: gay shoppers did not materialize because JCP didn’t sell anything they wanted.) Sounds like they didn’t have anything you wanted long before that happened.


46 posted on 05/16/2020 8:18:34 AM PDT by Spktyr (Overwhelmingly superior firepower and the willingness to use it is the only proven peace solution.)
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To: Spktyr

Gee, I guess you don’t have reading comprehension since I was guessing at 15 years but you latched onto that as a fact.


47 posted on 05/16/2020 8:20:14 AM PDT by CodeToad (Arm Up! They Have!)
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To: Delta 21

You must be a sought after party guest.


48 posted on 05/16/2020 8:22:49 AM PDT by bwest
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To: CodeToad

See post 48.


49 posted on 05/16/2020 8:25:16 AM PDT by bwest
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To: CodeToad

No, I was pointing out that if you haven’t been to JCP in 15 years, the ALL GAY ALL THE TIME promotion wasn’t the reason. It was the problem JCP had all along - after the 1980s, JCP didn’t have anything anyone under 55-60 wanted.


50 posted on 05/16/2020 8:31:06 AM PDT by Spktyr (Overwhelmingly superior firepower and the willingness to use it is the only proven peace solution.)
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To: bwest; xp38

It certainly increases the caliber of the experience. Some are even embarrassed to admit how much they feel as I do.


51 posted on 05/16/2020 8:35:15 AM PDT by Delta 21 (Be strong & prosper, be weak & die! Stay true.... ~~ Donald J. Trump)
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To: knighthawk

J C Penny was doomed the minute the board of directors hired the idiot from Apple to be the CEO. He knew nothing about department stores. And yes, I agree with an earlier post about ceasing to sell tee shirts and polo shirts with pockets. Penny’s joined the rush to convert all men to girlie men. Real men need pockets because we do not carry purses. I liked Penny’s. They were the first major retailer to offer big and tall men clothes at reasonable prices. Prior to this, I had to use mail order outlets such as KingSize and they raped us on prices. Yet, when Penny’s decided to use homosexuals in their ads, I abandoned them. The family of a dad, a mom and kids comes first in my house. No substitutes allowed, PERIOD.


52 posted on 05/16/2020 9:00:19 AM PDT by Saltmeat (69)
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To: bert

“is fashionable although 40 years old”

Fashion is cyclic my friend. My wife and I see clothing all the time in the mall that was “in” when we were kids.

Ecclesiastes 1:9 (NIV)
9 What has been will be again,
what has been done will be done again;
there is nothing new under the sun.


53 posted on 05/16/2020 9:15:47 AM PDT by V_TWIN
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To: Spktyr

“But our customers don’t waaaaaaaaaaaaaaaaaaaaaant online sales” - then your customers are in their 70s and aren’t buying crap anyway. 

“Well I am talking about the lockdown causing unemployment and closing of small businesses as well as companies like the Penny chain and if not curtailed could have disastrous economic consequences. Those that lose their jobs are not terrorist as Hillary claims. The economy cannot endure a 14.7% unemployment rate! Your reference to “customers are in their 70s and aren’t buying crap anyway” is irrelevant.


54 posted on 05/16/2020 9:20:20 AM PDT by Rock N Jones (1935)
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To: knighthawk

55 posted on 05/16/2020 9:23:59 AM PDT by dfwgator (Endut! Hoch Hech!)
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To: knighthawk
In 2012, JC Penney hired Ellen DeGeneres to be their national spokesperson for their new "fair and square" motto.

Some groups saw it as a corporate attempt to normalize the gay lifestyle.

jcpenney Partners With Ellen DeGeneres

"Ellen DeGeneres is one of the most fun and vibrant people in entertainment today, with great warmth and a down-to-earth attitude. The millions who watch her on television and follow her through social media relate to her and trust what she has to say," said Michael Francis, president of J. C. Penney Company, Inc. "Importantly, we share the same fundamental values as Ellen. At jcpenney, we couldn't think of a better partner to help us put the fun back into the retail experience. Moving forward, we'll be focused on being in sync with the rhythm of our customers' lives and operating in a 'Fair and Square' manner that is rooted in integrity, simplicity and respect. We're thrilled that she's joining our team to help convey the exciting transformation under way."

jcpenney CEO on Ellen DeGeneres controversy

jcpenney is trying to rebuild its customer base with help from a new spokeswoman, Ellen DeGeneres.

But a group called One Million Moms is accusing the company of "jumping on the pro-gay bandwagon."

DeGeneres responded to the group on her TV show Wednesday, saying, "I'm happy about (being the spokesperson), jcpenney is happy about it. But there's this group called One Million Moms that is not happy about it. And normally I try not to pay attention to my haters, but this time I'd like to talk about it because my haters are my motivators. This organization doesn't think I should be the spokesperson because I am gay. So for those of you tuning in for the first time, I'm gay. I hope you were sitting down. ... So they wanted to get me fired, and I'm proud and happy to say that jcpenney stuck by their decision to make me their spokesperson."

In a statement last week, jcpenney said it stands behind its partnership the talk show host.

On "CBS This Morning," Thursday, jcpenney chief executive officer Ron Johnson, said the company "shares the same values" as DeGeneres and that the decision to have her as a spokesperson was a "no-brainer."

J.C. Penney fires CEO after plummeting sales following gay ad campaign

Plenty of companies have argued that natural marriage is "bad for business"--but they'll have a tough time persuading J.C. Penney. After a series of radical decisions, the retailer is struggling to survive a 25 percent drop in sales.

It started in 2011 when the company hired Ellen DeGeneres, a vocal proponent of same-sex "marriage" as its spokesperson.

The choice drew fire from organizations like the American Family Association (AFA) because it was a departure from the store's longstanding values. When AFA's One Million Moms complained, J.C. Penney's new CEO, Ron Johnson, stubbornly dug in his heels.

Then, on Mothers' Day, the company shocked customers with a blatant endorsement of homosexuality in an ad that featured two moms--followed by a two-dads ad for Fathers' Day. Coupled with an overhaul of the stores' pricing system, the stock never recovered.

-PJ

56 posted on 05/16/2020 9:26:30 AM PDT by Political Junkie Too (Freedom of the press is the People's right to publish, not CNN's right to the 1st question.)
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To: Rock N Jones

No, it’s completely relevant. I have sat in meetings where executives refused to get with the times and offer online purchases, in store pickup, etc. - all the expected elements of modern commerce - because “OuR cUsToMeRs DoN’t WaNt OnLiNe SaLeS!!!!!!!!!”

These same executives were wondering why their customer pool was shrinking and that every year their average customer age was advanced by one. I.E., in 2010 the average customer age was 60, in 2011 the average age became 61, in 2012 it was 62, etc. Numbers like that indicate that your business is in the process of failing, but these execs don’t want to admit it. They need to get over it and adapt to the situation as it is.

JCP’s bankruptcy is not caused by the coronavirus lockdowns. Neither was Neiman Marcus’ or JC Crew’s. It was poor management, the failures were already in progress and the lockdown only brought the failures forward. People who worked there were going to be losing their jobs *anyway*. They made no attempt prior to COVID-19 to get their heads out of their arses; you are bemoaning the loss of buggy whip manufacturers in the era of the automobile, basically.


57 posted on 05/16/2020 9:34:54 AM PDT by Spktyr (Overwhelmingly superior firepower and the willingness to use it is the only proven peace solution.)
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To: Spktyr

“But our customers don’t waaaaaaaaaaaaaaaaaaaaaant online sales” - then your customers are in their 70s and aren’t buying crap anyway. Get over it, sell what more people want and get with the modern marketplace or fail as a business. Note that Neiman also is stuck with an old customer base for similar reasons.”””

There are over 44 million on Soc Sec & we STILL shop. We need clothes, shoes, underwear, linens —the same as someone who is 40.

STOP antagonizing all of us.


58 posted on 05/16/2020 10:01:48 AM PDT by ridesthemiles
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To: Spktyr

“People who worked there were going to be losing their jobs *anyway*..”
Are you so sure? This is a reorganization and Penny’s is not closing shop and the reorganization is most definitely brought on by the lockdown. The loss of jobs of employees in the stores that will close will be harmful not only to the employees but more important to the communities they live in as well as to the national interest. Is there any wonder you are seeing demonstrations by employees and small business owners? Time to open up to business activity before it is too late.
By the way are you a democRat?


59 posted on 05/16/2020 11:48:42 AM PDT by Rock N Jones (1935)
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To: ridesthemiles

Yes, you do shop for things. But if you’re on Social Security, you’re not buying the “latest must-have fashions for spring/summer/fall/winter.” You’re not buying the latest kitchen gadgets for the latest fad diet. You’re not buying seasonal fashion items in high volume. This isn’t meant to be insulting but simply statistics. The older you get, the less you spend on the kind of things JCP, Neiman’s, etc., sell. See the stats for yourself: https://www.bls.gov/opub/btn/volume-5/spending-patterns-of-older-americans.htm


60 posted on 05/16/2020 8:58:18 PM PDT by Spktyr (Overwhelmingly superior firepower and the willingness to use it is the only proven peace solution.)
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