Posted on 09/27/2013 8:48:31 AM PDT by SoFloFreeper
J.C. Penney’s stock hit a 13-year low Wednesday as investors grow increasingly concerned about the future of the 112 year old iconic American retailer.
Shares plunged more than 15% at one point and briefly dipped below $10 a share — a level they have not touched since November 2000.
Several analysts are predicting that J.C. Penney did not have a good back to school shopping season, and that sales continued to plummet in late August and early September.
Investors had already been spooked by reports that J.C. Penney might be seeking to raise more cash through the sale of new stock or bonds.
In a conference call with analysts last month, J.C. Penney executives said they would not need to raise more cash anytime soon. They expected to have $1.5 billion in cash by year-end.
But JPMorgan analyst Carla Casella recently estimated that the retailer could run out of cash by the third quarter of 2014 if J.C. Penney’s sales and profits failed to improve.
(Excerpt) Read more at wtvr.com ...
Customers abandoned midrange stores for either high or low end. The low end stores couldn't compete with Walmart, KMart, etc.
Penny tried to go upscale and you could buy a pair of levis jeans or jockey underwear cheaper there but they stayed in business only because of their loss leaders and sales.
Certainly since the collapse people are buying less.
Eventually Penny will go the same route as Montgomery Ward. I still have a working 19" inch TV I bought from Monkey Wards in the 90s. Probably 14-15-16 years old.
Gays do tend to be wealthier than the average population. Also, I may be stereotyping here; but, I wouldn't think that J.C. Pennys would be the store that gays would be flocking to for their shopping needs anyway.
Crap, no more Rice Chex for me. At least I can get an off brand Cinnamon Toast Crunch replacement.
No gay man worth his Dolce and Gabbna wardrobe would be caught dead shopping at Penny's. Those ads were not made for the gays. They were made to persuade middle class hausfraus that shopping at Penny's is hip.
When I was a teen in the late 60’s early 70’s JCP was THE place to shop. They had good prices and good stuff. They even had an auto parts dept for batteries, brakes, shocks, etc. They ditched that business model in the 80’s and decided to go ‘up-scale’ like the Macy chain. That’s when they started losing customers like me.........................
Since finding out that General Mills supported gay marriage, I switched from Cheerios to Shredded Wheat.
I think a fairly large percentage of the politicians in this country are probably bisexual or homo with many leaning towards pedophilia. What’s the closest profession to politics? Why prostitution naturally. They can’t help themselves; its inborn which makes it okay according to the liberal mindset.
http://www.malt-o-meal.com/cold-cereals/honey-nut-scooters/
These are just as good...................
That's the reason a lot of old people stopped buying there.
Old people don't buy very many clothes. Young people do. Homosexuality is not an issue for young people.
Same reason old people don't watch the very queer TV show Glee but young people do.
>>>I think they’ve tried to back away from it, but the damage has been done.
Relying on less than 3% of the population is not a sound marketing strategy unless that less than 3% happens to be incredibly wealthy. Even then, it’s dicey.<<<
Even if the 3% are incredibly wealthy they won’t be shopping at JC Penney, anyway.
Offending the vast majority of your customers, to cater to a handfull of deviants just doesn’t seem like a great strategy.
I still buy T-shirts there as well. I've been a customer of theirs for years because they used to have a pretty good big/tall section (I'm 6'5-1/2" tall). Most of my clothing is from JCP. Around the time of the idiot CEO's ascension, I stopped. Not because of the homosexual crap, but they just stopped carrying as much merchandise and stopped with coupons. He messed up the company in more ways than one.
I don’t want to see an icon of the American retail scene bankrupted by progressive cunning, but that’s what is into about every major corporation today. It’s been part of the tactic of the Left to get their own into high positions ie; CEO, CFO, Presidents, and the like within major corporations, as well onto the Boards of Directors. It’s NOT just the political parties effected by the practice of stealth infiltration by the Left. They are into virtually everything with a goal of coordinated subversion of our business, retail, industry, etc.
You may be onto something here. It sounds sort of "conspiracy theory-ish", but people really need to consider whether there are agents among us who get into positions of power simply to weaken the republic. I am currently reading M. Stanton Evans' book on Joe McCarthy. The commies who were in place in the U.S. Government were not merely spies; they were mainly there to influence policy so as to benefit Mother Russia. In spite of the efforts of anti-Communists like McCarthy, a large number of commies remained in the government. Who know how many there are now? Who know how many have infiltrated the government, school boards, companies, etc. with the express purpose of causing the breakdown of American society?
We shop at Aldi and they have just about every version of cereal available in their own brand and almost all of them are under $2 a box.
But older people nevertheless buy clothes. If there are 100 places to buy clothes, doesn’t it seem logical for a couple of them to cater to older people?
Seems to me that could have been their niche.
I don’t know much about clothing styles and marketing.
But I do know automobiles.
The byword there is: “you can sell a young man’s car to an old man, but you can’t sell an old man’s car to a young man”.
my problem with shopping for clothes and shirts in particular...
Nordstroms, Sears... you name it... I am sick and tired of all these fads and fashions...all my life I just wanted plain shirts... not loud, not fashionable, plain shirts I can wear and not make a “statement”..
and you walk into these stores the past 10 years... first you saw shirts with tattoo type designs on them...then everything was neon... everything now is plaid.. (plaid shirts you saw on the racks at Salvation army going for 75 cents).. and so every freaking young man I see at work now, looks like a slim waiter, wearing a tight plaid shirt...closely cropped hair, a little mustache and beard ...goatee type thing..
sheesh.. I can’t tolerate fashion
... and I can’t tolerate shopping, period !
OK, but Buick still exists, and Pontiac does not. So, it seems like they still sell old men’s cars.
Oh, and Toyota Avalon. Is there anyone under the age of 70 driving one of those?
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