” Gay C Penny’s is heading into retail oblivion.”
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This surprises me, as I was a big JCP catalog customer, but it was at least 15 years ago. Has it changed that much?
yes. they decided to turn their marketing towards the growing 2% of the homosexual community that don’t shop there because of the quality and much to their surprise, they offended a large part of the other 98% who stopped shopping there. It was probably the worst decision since new coke, IMO.
For the most part, retail outlets like JCP and Macy’s that employ the business models of the 60’s and 70’s (indoor mall based, high average mark-up, weekly “sales”)of our childhood will be going away and will be replaced with the “hypermarche” model in the shape of Target with a more robust online presence. This is why we don’t really see any new malls, just strips. Retail is a bad investment IMO.
Penny’s fired the guy who was pushing the gay agenda, and has tried to turn the chain back around. They seem to be making some progress, but the jury is still out on whether the current management can save the chain.