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.
Exactly. JC Penney has been circling the drain for 20 years. Walmart and Target are eating their lunch on one side and Macy’s stores on the other side. And as one article I read points out, retail competition is a zero-sum game.
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Yes indeed. One thing which frustrated me was when they eliminated checkouts in every department. Today, you have to walk all over the store to find a “Customer Service” counter, many of which may not be staffed. Last time I wanted to buy a pair of jeans, I couldn't find anyone to ring up the sale. Disgusted, I threw the jeans over a rack of swimsuits and walked out
And there are other things. For a time, Penneys had this concept of no sales. Sales may not necessarily be a bargain, but most people are attracted to them. If your store doesn't have sales, most people will go to a store that does.
Penneys, like Sears, is also going bilingual. Sorry. English is the official language in this country. I won't shop at stores which cater to a particular ethnic group.