Penney records bigger-than-expected loss in 2Q

Associated Press ^ | August 10, 2012 | Anne d'Innocenzi

[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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[Buckeye McFrog]

All you have to do is look at the whorewear geared towards LITTLE GIRLS and young women

Boy, are you on-target with that observation. I spent a few evenings working our church's summer carnival, and OMG! The stuff most of the teenage girls were wearing made a 1980's Madonna video look like a nun convention by comparison.

[chaos_5]

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.

OH! I see... Well wouldn’t it be ironic then if their numbers go down as much as Chick-Fill-A's goes up! Personally I think it's got more to do with shoppers who expect to buy things on sale for no other reason than it's on sale.

[PogySailor]

1) Quality of the merchandise has gone way down.
2) Never staffed with enough sales force.
3) Never stocked with normal range sizes.

My reasons for not shopping JCP in the past 24-36 months.

[albie]

Gays don’t now nor will they ever shop at Penneys. They always have money or at least like to be perceived as having money and having a JC Penney label dangling from your shirt won’t cut it. It’s all about labels.

[a fool in paradise]

But they’ve got same sex male relationships in the catalogs now.

The shareholders must be pleased by that, right?

[a fool in paradise]

Society didn’t care when JC Penney ran a tv ad where a mother looked skeptical at her teen daughter’s low rise jeans and then helped her adjust them DOWNWARD.

[fwdude]

I prefer Gay C. Pansy.

[fwdude]

I've noticed that many malls that are trying to stay open are going third-world: Mexican. One of the oldest malls in Ft Worth was a popular open air design with covered walkways and four or five major anchor stores. As the neighborhood declined due to, or in tandem with, the influx of illegal aliens, the mall switched hands several times and was converted into an indoor mall to match all the other cookie-cutter malls. Perhaps it was because the open air concept exposed more businesses to crime through easy concealment an access, but that just goes to prove the increase in crime in the area coincided with the illegal population.

Now, the mall is nothing but a Mexican flea market - a complete pig sty. All of the anchor stores have long ago fled. They even fly Mexican flags over the structure, as kind of a gesture of conquest, I guess. Conquest, but destruction, like their own country.

[Rides_A_Red_Horse]

Someone should ask that guy with the Doctorate in Marketing what he thinks. He said that Chic Fil A’s brand was damaged by the CEO’s expression of personal values. I bet that guy would say that Penny’s brand is doing great despite plummeting sales.

[MinuteGal]

Just about the same thing is happening to the Fox Valley Mall in Aurora/Naperville, Illinois.....once a higher-end sparkling suburban mall with great stores. Now filling up with in-your-face ghetto trash and flea-market "stores".

Leni

[TASMANIANRED]

Hard to mass market to 2% of the population.