Posted on 05/07/2013 4:13:39 PM PDT by South40
J.C. Penney Co. (JCP -3.07%) forecast a sharper-than-expected decline in fiscal first-quarter sales, citing the effect of former Chief Executive Ron Johnson's strategies to turn around the struggling department-store operator.
For the quarter ended Saturday, the company said it expects to post sales of roughly $2.64 billion, a 16% drop from the prior year. Analysts polled by Thomson Reuters expect sales of $2.74 billion, or a 13% decline.
Same-store sales were estimated to be down 16.6%, after falling 18.9% a year earlier.
(Excerpt) Read more at online.wsj.com ...
JC Penny’s was lost quite awhile ago. They made their bed, chose who to stand with all on their own....so enjoy yourselves but I won’t be a part of what you have become.
Thank you Gator....I hope but i am not a fool wither...it will take a lot more yet to turn this around...but at least it’s much better going into work there...I had been looking for other work...It didn’t feel like a good fit anymore.
Outrageous and completely unnecessary discontinuation.
Well Johnson didn’t care what the customer wanted...he was on another track for Penney’s altogether.
I remember after one year the “message” was... the customer has had enough time to adjust and we’re moving on from here.
What an insult!
What he didn’t seem to accept was it was the customer who was moving on! We saw it week after week as the traffic declined more and more...and even then he still wouldn’t pay attention.
BTW It is known in the high fashion industry that Penney’s shirts, and clothes for men, are the best quality if one doesn’t buy high end designer labels.
I wish the same for Starbucks with the hard-core attitude they don't care what we think about who they support. Hubby pointed out this morning that many people in America only make $7.00 an hour (before taxes) when people spend almost that much for just one latte's or cappuccino and they do it often.
Jinkies! Sounds like they’d better rush right out and hire some more queers to hock their crappy, overpriced garbage...
Wow! What a broad sweep you make. Good you are not going to be shopping there. If they can get things turned around, as it should be - I will shop there. If you are concerned about who is pro-gay / who donates to gay causes-and who is not, you need to check- you will not be shopping any where.
Why in the world do you assume any one and every one who works at JCPs is queer?
Gay C. Penney. Let them rely on the perverts whose butts they kissed.
I could use a pair of pants and was in their neighborhood, so I wandered in last Saturday morning. It's been awhile, but I didn't recognize the place.
The store was devoid of shoppers. None. I was it. And this was a Saturday - not an off time.
Stranger still was the fact that 1/2 the store was empty. Some was due to a remodeling that was going on. But at least 1/2 of the available floor space had little to no merchandise on it. I'm no expert, but I'd guess that it's hard to make money if you have nothing to sell.
And my pants? Kohl's had the same thing, cheaper, without the coupon.
Barring a 180 flip in the next few months, JCP is on its way out. Too bad, I really liked shopping there, at one time.
But I didn't. Where did you get that from? Something struck close to home, is there something you want to share?
Why would you smear all JCP workers as queer? That is what I got out of your post. The workers have nothing to do with the overall leadership.
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