Posted on 03/01/2013 4:44:33 PM PST by PJ-Comix
JCPenney, the storied if unglamorous retailer, is in trouble. Big trouble. Fourth-quarter earnings results came out on Wednesday and they were terrible. The bad news starts with a quarterly loss of $427 million, but it doesn’t end there. Comparable store sales—meaning stores that were open this past quarter and also open in the same quarter of the previous year—fell by a mind-boggling 32 percent. Henry Blodget says it may have been the worst quarter posted by any retailer ever.
It wasn’t supposed to be this way. JCPenney made a big splash in the retail world by hiring Ron Johnson, mastermind of Apple’s retail operations, as CEO. He immediately set about to reorganize the stores, and imported Apple concepts, most notably a “no discounting” policy geared around convincing customers that the everyday price is a great price. The results seemed to speak for themselves, but I was curious. After all, I’ve never given the “new” JCPenney a try. Perhaps Johnson is a visionary genius who’s reinvented the department store, and the world just isn’t ready for him. Perhaps he’s the victim of bad luck. Perhaps shareholders just need to hold on and have faith.
(Excerpt) Read more at slate.com ...
Some things are made in the USA. They have a tag on them that says, “This item is flagged” and it shows an American flag.
All of the new Stafford(Penney’s)line of men’s underwear is now made in the USA.
Deader than Elvis. Same with Sears. Over.
Never bring a computer salesman to a clothing store fight.
To use manikins with a black women's hip structure was deliberate attempt on someone’s part to be multicultural and “edgy”.
Dumb! Dumb! Dumb!
Did you know that Mr. Penney did not want to be known as a “Five and Dime” and that is why there are no dimes in our cash drawers?
Please read my post #40. Did the manikins contribute to the “One World” multicultural feel?
“They used to have some really good coupons and sales at Penney’s but no more.”
Wow, you nailed it. Just how much of our culture JCP was is illustrated here, in the greatest movie of all time (only 12 seconds, so watch it):
http://www.youtube.com/watch?v=uJSgZYUnQn0
i liked the coupons too... however, my momma offered to buy my teen-aged sons some clothing for spring today... and we went to JCP... the prices were excellent... no sales, other than clearance items... but the regular prices were less than most sales anywhere else... i was pleasantly surprised... and a lot of the clothing was really nice..
on the other hand, we went to Sears to pick up some Dickies for my daddy... everything in there looked like crap... cheap, cheap, cheap-looking... why is it always like that at Sears? (other than the appliance and hardware sections)... and prices not as good as JCP... and the services was excellent... no less than three sales people helped me look for sizes, specific items and certain colors in denim-wear... i was shocked to get that kind of service... i normally only get that at Nordstrom...
Does anyone know if Ron Johnson “bats for the other team”? He certainly looks it, and, if so, I’d be mighty angry if I were a shareholder about to go broke.
I have no idea what you mean. Sorry.
Our local Penneys is a ghost town of merchandise. They barely have anything on their floors. In the city next over it is just as bad at their mall. The Penneys there has little stock on the floors. Lots of space between the items around the floors. I told my wife something big was up with Penney. Now this proves it. They are in deep sneakers.
LOLzzz
That was a running joke in our house what with every day a new coupon or sales circular coming in the mail from JCP.
Thank you for shopping with us:)
Please be sure to let all your friends and family know about your experience.
Honestly, I hope this all works out. I have been a JCP shopper my whole life and I do like working there. I would be very sorry to see the company shut down.
If we can ride it out, we may yet make it.
I believe so..The manikins were also all lined up in a row with left arms extended, palms forward, same outfits on but different colors.
I find better deals at Value Village.
I wear used clothes so my kids can wear new clothes.
China doesn't even wholesale shirts that cheap. Either they are from Bangladesh or JCP took a giant loss on that sale. :)
I won’t go there if its free. Degenerate and push for same sex marriage finished it for me. Too bad. It was founded on the opposite truth.
If you haven’t been there lately, you oughta check out your local JCPenney store - they’ve really gone fabulous!
That fact is very interesting to me, Jvette. Of course, now a “dime” from the old days is worth like three bucks — hard cash. But a nice shirt is now like $60, or the equivalent of two silver dollars’ current value.
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