Posted on 03/21/2013 10:24:05 AM PDT by jimbo123
However youre counting the numbers, they hurt.
JCPenney revealed in a regulatory filing yesterday that it finished its fiscal year ended Feb. 2 with 116,000 employees a whopping 43,000 less than a year earlier.
Thats a slashing of 27 percent even steeper than the companys disastrous revenue decline of 24.8 percent for the same period.
Its also more than twice the figure of 19,000 job cuts that Chief Executive Ron Johnson testified to under oath earlier this month, when asked during the companys trial with Macys and Martha Stewart how many Penney employees had lost their jobs on his watch.
(Excerpt) Read more at nypost.com ...
LMAO! So my way of life of being a financial analyst and understanding business and markets it’s not normal? Who knew?
Great cover!
Our neighbor used the same cover until the feds caught him; real high roller. Wells Fargo doesn’t like him much though; got stiffed with a 2.5m mortgage from back in 05 when fools used to pay that kind of bread for a box to live in.
I had always bought curtains and bedding from them. When I got their first homosexual catalog, I got in touch with them and said quit sending me homosexual catalogs because I didn’t want homosexuals in my house. I cut up their credit card because I didn’t want the stench of that in my house.
Sorry you neighbor is an idiot. However I have no clue what in the world with at has to do with me as I’m not stupid enough to have debt I can’t afford. Thanks for the irrelevant advice though...
Does anyone even watch her show?
She still has it so,I suppose someone is watching.
As in many other fields, there's a lot/too much competition, and when you T-off your customer base, they go elsewhere and never come back.
Something like "An out of stock item is a lost sale".
Ron Johnson ousted as JCP CEO. Stock explodes higher
Ron Johnson Out At JCPenney
Ashley Lutz | 25 minutes ago | 2,501 | 5
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ReutersRon Johnson is out as JCPenney CEO.
CNBC first cited an anonymous source who said that Johnson was out at the company.
Mike Ullman, the former chief executive of the company, will take the helm as interim CEO, according to CNBC.
Shares are already soaring up to 10 percent on the news.
Johnson took over 15 months ago and announced an aggressive plan to do away with the retailer’s popular coupon program and create shop-in-shops that showcased certain vendors.
But his turnaround strategy has largely failed, with sales down 32 percent in the fourth quarter.
As the company burned through available cash and resources, the industry was “taking bets” on when he would get fired, reported Richard Collings at The Deal.
Last week, it was revealed that his compensation package fell 97 percent.
Before his disastrous tenure at JCPenney, Johnson was considered a visionary for his work on the Apple retail stores.
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