pander to the filthy 1% then lose 20% in revenue... 
Posted on 05/15/2012 4:57:17 PM PDT by jimbo123
J.C. Penney Co., which is making major pricing and merchandising changes, said Tuesday that it swung to a first-quarter loss that was larger than expected and that it no longer expects to meet its previous profit forecast for the year.
-snip-
The net loss was $163 million, or 75 cents a share, compared with a profit of $64 million or 28 cents a share a year earlier. Sales in the quarter ended April 28 fell 20% to $3.15 billion.
(Excerpt) Read more at marketwatch.com ...
lol It just isn’t fair....
She can go buy some clothes that she otherwise would have never gotten without the coupon and that’s supposed to be ‘OK’, but if I go buy some ammo that’s on sale, it’s considered a “wasting money”. Hell... she likes shooting it too!
FWIW ... JCP is dying for many more reasons than hiring Butch. Their new CEO is spending money like Obama does. I know many folks that work there or have just recently been laid off. Their problems go much deeper than Ellen.
There have not been any coupons since January. They stopped sending out the coupons, and having sales, beginning Jan 2012. I don't understand it either, and, like your wife, I was always happy to get the coupons and would look forward to the sales. Dumb, dumb dumb --- must be an east-coast ivy league collge graduate running things now.
J.C. Penney bends over and loses.
Hey, Penneys. Here’s a radical idea. Just sell your merchandise and quite trying to make political statements.
Tell her you’re going to take the money she’s saving by not shopping at Penneys and spend it on ammo, LOL.
As I have said on a few of these JCP threads. I have worked there for three years and the difference in the place in that time is remarkable.
What is happening now is a total change from “Penney’s:to “JCP”, Ron Johnson’s vision of retail. The company is systematically moving from a family style store to one that attracts a very demographic group than it has for its previous 100 years.
All of the old brands, brands which people associate with “Penney’s” are being slowly phased out and new brands are being brought in.
Towncraft has been a constant there and the older men who wear the brand are finding out that it is no longer available. Basics(underwear, socks and T-shirts) are being downsized in merchandizing and floor space, and what is there is trendy fabrics, colors and cuts. The old tighty whities are disappearing. Again, it’s the old guys who are being pushed out.
I work in the men’s department so I am more aware of the changes there, but it is happening all over the store. The move is to trendy, hip and YOUNG and the new CEO has no problem with the fact that long time older customers are the most disappointed with the changes. HE DOESN”T WANT THEM ANYMORE!!!!
We recently watched a video discussing the new streamlined management, which basically amounts to fewer people doing more work. Actually, work is not getting done, the floor looks nice, but behind the scenes in the stock rooms there is total disarray and chaos as things just get shoved out of sight and out of mind.
We were encouraged to “stay in there” as the changes go forward and we will see that the new JCP will be a great place to shop and work. It is all going to pay off, but it may take a couple of years for full implementation of the changes for us to see that Ron Johnson is a genius.
Morale is extremely low. People are overworked and tired and sick to death of having to defend all the changes to long time customers who are so disappointed by having the rug pulled out from under them.
We are seeing different clientele and less traffic as the loyal coupon shoppers who came in once a week are no longer making a trip to Penney’s a must do so that their coupon doesn’t expire or they miss a good deal.
We’ll see. I don’t know how much of the disillusionment is due to Ellen, customers don’t ever mention her one way or the other, though they have said they hate the new TV ads.
As they say, time will tell. This guy will be either the hero or the goat depending on what happens over the course of the next couple of years.
Oh, yes it’s Ladies’ Night and the feeling’s right. Oh, yes it’s Ladies’ Night. Oh what a night!
The Kennedys shopped at JC Penneys?
Isn’t that the White Man’s Overbite?
LOL!
pander to the filthy 1% then lose 20% in revenue...
I knew that crap about Him being shot in Dailey Plaza was all part of the conspiracy.
She's not even likeable.
Reminds me an awful lot of Mitt Romney.
Those folks appeal to a certain type I guess.
That’s a great idea! In 2 or 3 months, I might be able to get a new Glock or a cheap AR! lol
Now let’s see - didn’t Degeneris have a much publicized affair with Anne Heche, who then had a much publicized breakup with Ellen and eventually married some guy who was really a guy - and why exactly would I want to buy something from a store endorsed by someone with such a shaky grasp on what’s real and what’s make-believe......
I wrote a letter to JCP about my disappointment with Ellen Degeneres as spokesperson. I received an extremely snarky response from JCP Customer Service. They said they were very happy with ED and basically “screw you”. I was stunned by the tone of the email.
And another brilliant move. From the article:
“Penney also has eliminated store employee commissions to improve service.”
Works every time...
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