Posted on 05/22/2018 11:14:15 AM PDT by tcrlaf
Marvin Ellison's exit as CEO of J.C. Penney means the struggling department store chain can't be turned around, CNBC's Jim Cramer said Tuesday.
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J.C. Penney shares plunged Tuesday after Lowe's announced it is naming Ellison president and CEO, effective July 2. J.C. Penney, which has struggled to compete within the quickly changing retail landscape, told CNBC that it was informed by Ellison a couple days ago of the move.
"If there was any chance [of a turnaround], I think you would stay," Cramer said on "Squawk on the Street." "Because it would obviously be such a kick in the face of J.C. Penney to move over."
Cramer, who also said Ellison's move is "fabulous" for Lowe's, added he would not say that Marvin Ellison "failed" the department store chain because "who would not fail there."
(Excerpt) Read more at msn.com ...
Cramer has the credibility of a gnat.
But yes, there is just no way old department stores can survive. Take a look at them in the middle of the day. Hardly a soul around.
Indeed. Born a crook. And always a crook, even if Bloomberg is stupid to give him a paycheck for his performance.
Cramer is a man who will say ANYTHING to choke every last penny from your wallet. Now he is on retainer with financial networks, that do that very thing for their Wall Street friends.
I get a lot of deal w/them online; haven’t been in a store in years.
Here in Canada, I don’t know about the US, malls have 1 or 2 anchor stores. Usually one of two of those anchors are department stores. With Sears and Target failing in Canada, one wonders who will pay the rent on this anchor stores. In one case Lowes filled the vacancy. Will see how it goes. In Canada we have Hudson Bay Company. They have been experimenting with everything under the sun to increase their sales to no avail. I think it is a matter of time and they disappear as well.
Sad thing is for clothing many of the boutique stores have terrible return policies. My daughter got something at Urban Barn, and was told you can only return or exchange in 2 weeks. When I begged for an exception the manager said, “NO way, no how”.
Kohls has some beautiful dress shirts for men- get them on sale tho cause they are steep.
Cramer gave a great speech Sunday at Bucknell’s graduation.
Inspiring-—and humorous.
.
Yup, hardly went there before the gay crap, but after, made a conscious note to never go there again.
It didnt help most of their stores were not remodeled to look like and operate the way they were advertised in their new ads, either.
Well, to be fair, they may still be online. Brick and Mortar part may be the biggest hit. they will restructure but online stuff may still function okay.
Hmmm.
I try to stay away from Amazon. Needed some mechanical parts not long ago and made sure the site wasn’t connected to Amazon. Guess what. Box and packing tape was from Amazon, grrrrr.
Ebay usually has better prices. Got a bunch of tableware to replace those the kiddos took to school/work/lost for less than the price of one piece from Replacements.com.
great !
( we had a months-long fight to get our money or mechandise after sears sold us a blank, worth zero ...gift card
and our local sears store is very easy to shop at since it is almost completely devoid of any customers...
you can roll a bowling ball down the main aisle and hit nobody, smile smile
Lands End has some pretty good stuff, glad you were able to find it at S!
Even after the homo-loving CEO was shown the door, their merchandise has not recovered. They used to be a reasonably priced place to buy good, basic clothing. I need Big and Tall, and most Penneys had B&T sections that had decent stuff. Then they went homo and had all crap that I wouldn’t have taken for free. Then they tried to backpedal, but they cut way back on B&T and still carry mostly junk. I don’t even bother to look there anymore.
It’s my bet that Cramer shills for hedge funds.
I wish there were no clothes at all.
No doubt about it.
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