Charts: Bloomberg
Posted on 08/05/2013 11:01:17 AM PDT by Perdogg
It would appear that in the order of who knows what when, in the case of JCPenney, it is C-level executives first, credit markets second (was Goldman's line a pre-DIP?), and equity shareholders (Ackamn included) last. With the torrent of executve departures in the last year, credit market investors led the equity over the past two weeks as credit lines were (allegedly) pulled. Today's 50bps rise in JCP's 5Y CDS pushes the company's risk of bankruptcy to its highest ever (arguably higher than 65% over the next few years given the secured assets). JCP's stock is down 2% on the day but still holding above its April (and 2009) lows (for now).
Charts: Bloomberg
For many years here in Seattle, every clerk and manager at JCP is either foreign born or Black.
Except for Nordstrom and Tiffany, that's true for almost every shop in the upscale mall a few blocks from my apartment.
That means one thing for certain - wages in the retail industry must completely suck!
I will be sorry to see JCP go bust for one other critical reason.....
I've been buying my Jockey Classic black briefs and Jockey Classic black t-shirts and extra large white Gold Toe socks on sale there for the last 40 years!
Does this mean I have to pay full price at Macy's?
Try Kohl’s——the store and the website. Macy’s can be overpriced, but Kohl’s has excellent sales.
Thank you, Catherine.
Target and Costco are really the only other moderate price stores I go to.
I don’t think either one carries Jockey or Gold Toe, but I could be wrong.
I can buy underware, socks, ammo and guns at Walmart.
They were the Amazon of the day (along with other catalog companies).
I’ve defended JCP because their house brand fit me perfectly, and nothing else, at any price, did that.
Two days ago, I raced into JCP for a new outfit, found what I wanted, and bought it without trying it on because I KNEW I could ALWAYS rely on their sizing.
It does not fit. It’s going back. I’m devastated. JCP is no longer my reliable friend.
Do they have enough money to continue to pay Ellen?”
Just heard that she/he/it is going to be the Oscar MC next time around. Doesn’t really matter to me because I never watch it but the network is expecting to set viewer records so I’m sure she is going to get big bucks for that.
I think they went downhill because they forgot who their core demographic was and quit making the clothes that we had bought there for years.
Changed styles, fabrics, etc. I used to buy most of our clothes, online, at Pennys because I knew their products and what fit which family member.
They now sell NONE of the clothing items I used to buy on a regular basis.
“Try Kohl’s...”
I don’t know if it’s the Kohls card we got or not, but...you get on their mailing list and you receive all sorts of discount coupons. Anywhere from 10% to 30%, plus good store sales. Sometimes, prices are discounted even more if you use their card for the purchase...which I only use if there’s a price reduction.
No reason to buy anything there at full price.
The main reason I don’t spend more there is I’m just plain tired of buying “stuff”.
Six years ago I bought a wonderful shade for the window in my office. Since it does appear likely they might be going out of business I did go on line to see if I could get one more like it because the old one really does need to be replaced. One I bought before was $40.00 and 46” wide and just perfect fit. One they have now is $120.00 and is 47” wide. Won’t be doing that!
Should have bought two originally.
That’s queer. They used to do so well. What changed?
You must be a guy because women’s sizes are totally meaningless.
Kohl’s keeps getting busted for raising their prices just so they can turn around and “discount” them for so-called ‘sales’.
http://abclocal.go.com/kgo/story?section=news/business&id=9089623
Fine, just don't touch my Cliff Plunge stage name, I got dibs on that!
They tried to out-Walmart Walmart, selling sweatshop clothing to middle America. Their real stroke of genius was in using gays to pitch clothing (that the homos wouldn't be caught dead in) to us `homophobic' hoi polloi. This was a perfect storm of stupid.
You’re welcome. I think you’re right about Target and Costco, but I’m pretty sure Kohl’s has them.
I guess it’s true what they say about (gay?) Pride going before destruction and haughty spirit before a fall.
Costco carries Gold Toe socks and own brand knockoffs. On the Kirkland socks my husband kept getting holes at the side ankle seam, but the Gold Toe are great.
As far as underwear goes, they carry Champion and own brand and we’ve been happy with both. I buy both because my teen son and husband wear the same size so I get them different brands to aid laundry sorting. Champion is a slightly looser fit.
If you’re interested in undershirts the Kirkland ones are good quality, but too thick for my husband. I buy the Calvin Klein undershirts at Costco which are thinner, and the collars wear just a little better. I find the own brand ones pill a bit.
Yep, that’s Kohl’s, all right.
I’ve never bought anything there at full price. The only gripe is I have with them is that they operate with a bare-bones staff, so that there aren’t enough people to keep things in order. Quite frequently, my local store is a mess
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.