Posted on 08/09/2013 1:15:50 PM PDT by NoLibZone
Shares of embattled retailer J.C. Penney Co. fell another 2.5% in premarket trading on Friday amid an interal battle with shareholders. The board slammed Pershing Square Capital Management's Bill Ackman for a letter in which he criticized the board's failure to find a longer-term solution for the Chief Executive Officer Mike Ulman.
(Excerpt) Read more at foxbusiness.com ...
Gays shopping at Sears?
Yeah, like THAT is gonna happen!!
I bet they have thoroughly “poison-pilled” themselves to prevent takeover by somebody who would pay for the takeover by liquidating their assets.
JCP forgot their customer base......the other 98%.
There’s a mall near me that’s kind of funny.The older section is pretty middle class...very nice,clean,stylish but nothing exceptional.The newer section is very upscale.Neiman Marcus,Nordstrom’s,Louis Vitton,Gucci,etc.The older section has a JC Penny,among other stores.I go to the mall often to walk and whenever I walk past the Penny’s it’s deserted...you can actually hear the crickets.
The gay thing was around before that one idiot became CEO but he was part of putting it in place. Then that idiot, whatever his metrosexual name was, ramped it up to absurd levels - in addition to other stupid decisions - no sales/coupons.
The guy lived in a Las Vegas hotel, he FLEW to Dallas once a week or so to the headquarters. He was as out of touch as a CEO can get. Not that the new guy is going to be much of an improvement.
Hey. SOMEBODY has to shop at Sears. Have you been in one lately?
Better hurry. They may close before Penny’s.
More like is my Show Slipping!!!!
the only time i bought something there was 2 years ago and it was the Cook’ microwave and toaster for cheap. Darn thing still works like a charm until now and their CS is good.
BUT they’re fag friendly and fags disgust me so i wont shop there.
Gay Prom wear.
“As amusing as that would be, is there data to support that the gay ads hastened its decline (as opposed to it just ding a really crappy place that branding couldn’t save in this economy?)”
Ron Johnson made several changes currently that alienated one segment or another of their traditional customer base. But I think the thing that totally did them in was when they abruptly eliminated all of their traditional sales and coupons and went to “everyday low pricing”, which of course no one actually believed.
What customers DID believe was that they used to be able to walk into JCP and utilize MULTIPLE coupons and incentive discounts on goods that were already on sale, walking out of the store with good-quality clothing that was a genuine bargain. Without the sales and coupons, customers had no idea whether the pricing was fair or not. Apparently most decided the new pricing was NOT fair or not worth the time to figure out whether it was fair, and permanently sought other shopping venues.
Those companies have a very different target market than Penney’s and SEARS. The majority of us don’t appreciate having deviance shoved down our throats like it’s simply an “alternative” lifestyle with no adverse health effects.
The homosexual “community” is like low-fat milk.
Less than 2%.
It is the height of stupidity to demand that 98% of a population give in to the demands of a statistically insignificant minority.
They alienated 98% of their customer base to cater to the 2% who won't shop there.
I'm not a Business Major, but even *I* can see a flaw in that reasoning.
their ads are not in your face gay. JCP decides to come fully out the closer . it may not be the only reason for decline but it played a decent part. i know it was for me.
Penny’s was never a cool place to shop for gays or trendy people .
It’s where mom’s shopped . My mom shopped there for us kids , I shopped there for mine.
There clothes were not cheep but they used to wash and wear really well .If you purchased something from there you could expect to last and even be handed down.
There quality started to drop a lot and I had to be a lot more careful of what I purchased there (my daughter still had a closet full of their dresses , jeans and shoes ) The pushing the gay agenda and the in your face adds really turned me off . I stopped shopping there the day the first add came out .
For a store to keep it’s customers they need to know who there customers are . JC Penny NEVER was the trendy place and all they did was just insult their regular customers .
The JC Penny’s near me used to be busy , it is now empty every time I pass by . I guess I am not the only one around here that feels the same way.
You must be thinking of Robert Johnson. He was trying for a boutiques within a department store approach. Interestingly, he was a very successful marketer at Apple.
I guess dowdy department store JC Penney wasn't ready for marketing as some sort of conceptual art. They weren't doing well, but he put them into a real power dive. I don't know how they pull out of this one with out losing the wings. Maybe the value of the company will be in the real estate they own--does Amazon need any new distribution warehouses?
Yep. This was a suicide move, by their incompetent CEO.
I disagree. As “gay” as those other companies are, they haven’t really gone into family territory. JC Penney has always been considered a family friendly company. “Gay” families showing up on their ads and catalogue was a mega-turn off to real families.
The gay ads didn’t help, but JC Penney has been doomed for a decade or more. It’s a poorly managed brand, with declining quality merchandise, and, worse, it’s in a market segment (low-/mid-priced department stores) that seems destined to vanish. Their merchandise isn’t good enough to compete with the more upscale department stores (Macys/Nordstrom/etc), and their prices aren’t good enough to compete with Wal-Mart and Target (and even Kohls).
I re-did two bedrooms from curtains with matching bed cover and sheets/blanket, by mail order with Penney as I had always bought those types of things there. About two months later, they went homosexual and I got homosexual catalogs and called them to stop sending homosexuals into my house. I didn't get another catalog until this week and it had no homos in there but the goods are ultra modern and a toaster is $70 and a bed pillow is $80.
Now, this week I broke my non-buying rule about Penneys as they had a pair of Dearfoam slippers to step in after a shower and no other store around here did. I couldn't even find them on line, so I went to the Penneys store one exit from my house.
It was like a ghost town. There were customers in there but if you found something you wanted, you had to hunt for a clerk. There is only one clerk per section in the store. I found the Dearfoams by myself and had to walk around looking for a clerk. Think the slippers were $13.
Sleepwear for women was next to the house shoe section and there were very few choices. Very small section. Want a robe? They didn't have any. That section was laughable.
No wonder they are going broke, it is a pitiful store.
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.