Skip to comments.Is the end near for J.C. Penney?
Posted on 09/27/2013 8:48:31 AM PDT by SoFloFreeper
J.C. Penneys stock hit a 13-year low Wednesday as investors grow increasingly concerned about the future of the 112 year old iconic American retailer.
Shares plunged more than 15% at one point and briefly dipped below $10 a share a level they have not touched since November 2000.
Several analysts are predicting that J.C. Penney did not have a good back to school shopping season, and that sales continued to plummet in late August and early September.
Investors had already been spooked by reports that J.C. Penney might be seeking to raise more cash through the sale of new stock or bonds.
In a conference call with analysts last month, J.C. Penney executives said they would not need to raise more cash anytime soon. They expected to have $1.5 billion in cash by year-end.
But JPMorgan analyst Carla Casella recently estimated that the retailer could run out of cash by the third quarter of 2014 if J.C. Penneys sales and profits failed to improve.
(Excerpt) Read more at wtvr.com ...
Most Aldi products are good quality as well.
Buick today isn’t much like Buick of old.
All their vehicles are badge engineered Chevys and Opels.
Boy Scouts of America is exhibit A.
Perversion tolerated, then normalized, then celebrated, and finally mandated.
I am under 70 and would love to have one. Can’t afford it, though.
Irregardless of what they do or do not promote, they stopped carrying the few things, their own brand, that I went there to purchase. And when I went to their site to complain that they no longer carried the items and in effect would lose my business, one of their customer care “specialists” responded that I was wrong. It was just like talking to a liberal, truth is unknown.
Exactly. JC Penney has been circling the drain for 20 years. Walmart and Target are eating their lunch on one side and Macy’s stores on the other side. And as one article I read points out, retail competition is a zero-sum game.
I’m waiting on the FReepers to post that J.C. Penney isn’t having problems because of its open support for gays. Yet. It’s pretty clear to me that it’s stupid business to piss off just about any portion of a company’s clientele by taking a potentially unpopular public stand. So maybe the gay ads only cost J.C. Penney 1 or 2% of their business. Who really knows, but I can tell you this, me and mine used to buy there and we don’t do so anymore. Why? Because of their corporate cheer leading for the sodomites.
This is what I don’t understand. Exactly how many customers did J.C. Penney think they were going to get by advertising to homosexuals? Were there droves of homosexuals out there who were not shopping at J.C. Penney? Here we are in the midst a culture war, and some businesses want to take sides? The stupid. It BURNS!
Yes indeed. One thing which frustrated me was when they eliminated checkouts in every department. Today, you have to walk all over the store to find a “Customer Service” counter, many of which may not be staffed. Last time I wanted to buy a pair of jeans, I couldn't find anyone to ring up the sale. Disgusted, I threw the jeans over a rack of swimsuits and walked out
And there are other things. For a time, Penneys had this concept of no sales. Sales may not necessarily be a bargain, but most people are attracted to them. If your store doesn't have sales, most people will go to a store that does.
Penneys, like Sears, is also going bilingual. Sorry. English is the official language in this country. I won't shop at stores which cater to a particular ethnic group.
Used to shop there a lot. Will never shop there ever again once they promoted homosexuality.
The whole thing is rotten.
Like MANY other large, especially publicly-held companies.
I minimize what I buy so I minimize how much I turn over to new world order.
Most merchandise is junk made in foreign countries (part of new world order’s plans) anyway.
I’m 27 and I prefer plain clothing.
I thought they change for the better they got rid of other CEO Ron Johnson apparenlty not
I haven’t been inside JC Penney for 4 years now I been going to KOHL or Walmart
Regardless of JC Penny’s “agenda”...the store just sucks. They should have been gone long ago.
Maybe not, but in much of this state, Buicks - old OR new - are driven by humans that are old. So much so that it's sort of a "coin of the realm" as far as stereotyping goes
("Did you see that? Right through the stop sign... nice driving, grandma! Oh, yeah!!! She's drivin' a Buick. That's just PERfect.")
That image is just sick. Two mentally deranged idiots with direct access to children.
I think you're on to something. I know a lot of people choose to believe that the gay marketing is what destroyed Penney's. This may or may not be the case. I don't know. Fact is, there's a lot of other companies out there marketing to gays that are doing just fine.
One thing I do know is that Penney's today barely resembles the Penney's I used to shop at a few years ago. At one time I really liked their St. John's Bluff brand of casual wear. They were durable, fit well and their t-shirts, polos and oxfords came in about 100 different colors. They always had good prices on jeans and dockers as well. My closet was full of Penney's clothing. And then all of the sudden they just stopped carrying this stuff. And that's pretty much when I stopped shopping at Penney's.
That right there is why I absolutely refuse to do business with JC Penney. While I’m certain my measly little business has had no effect, I’m am also certain I am not the only person who has quit shopping there for this very reason.
JCP fired the guy who promoted the homosexual ads.
Just left a JCP store with two items on a great sale. Employees are much more positive now.