Posted on 05/06/2016 7:20:44 AM PDT by DCBryan1
JCPenney, faced with unexpected light sales in mid-April, slashed payroll, froze overtime and took other drastic cost-cutting steps in an attempt to protect its bottom line, The Post has learned.
As the end of its first fiscal quarter approached, the mid-priced department store told store managers to take the emergency measures because the chain faced “an expense challenge,” according to an internal memo obtained by The Post.
“We have an expense challenge for the month of April and are asking all stores to do their fair share by closely monitoring all expenses,” the memo said.
Employees were stunned when their hours were slashed on such short notice, one source said. The cut in employee hours saved Penney around 800 hours over two weeks — or approximately $8,000 per store.
(Excerpt) Read more at nypost.com ...
I wish. But not likely we are going to do much damage to their bottom line. Best we can hope for is relentless PR disaster. Not too likely either, got to move on the next, latest liberal pervert attack on normal people.
Whack-a-Mole
This should happen to every business that tries to ram “the agenda” down America’s throat. Target should follow but it shouldn’t take as long.
Target will only be affected if women actually care about men using their bathrooms. I’m not convinced they do. And yes, if they really don’t, it is a horrible indicator that we are really far gone culturally.
Target might do this for social justice reasons alone, but I don’t buy that from Trump. As far as I can tell he has the same policy as Target. I don’t buy that he doesn’t know what his women customers think about it, or are willing to do if they disagree. He seems pretty legit at least as far as business stuff goes.
I suppose we’ll get a better indication in a few months if Target is really going to be hurt by this.
Freegards
JCPenny was on a downward trend before the Apple guy, but don’t get me wrong, he didn’t help things and exacerbated them.
However, all mid level department stores are generally in trouble, and have been for a long time. The low level is basically wal mart at this point, Mid Level will be down to 1 or two players eventually as well... Just a matter of time.
JCPenny’s and Sears etc just haven’t remained relevant... their customer bases are aging and dying off and they haven’t found a way to connect with younger shoppers.
Sears CEO just needs to step aside and let someone with retail experience take over. A Retail chain is not a hedge fund, this guys been trying to run it like one now for over a decade and its been a disaster. JCPenny wasn’t in as bad of shape but faced the same general trend, and then the Apple guy just eviscerated the company thinking he could turn JCPenny’s into an Apple store. They’ve done better since he’s left, but they still are facing the same general trend.
This act though I think is more of a MACRO, JCPenny is just the first to publicly be noticed, we have been in a long term recession for nearly 8 years.... and we are about to drop again. JC Penny’s won’t be the only place seeing sales and revenue drops in the coming months.
I believe it. Somewhere I once worked required 3 refusals to 3 products (from a list of 12?), nine total noes, before actually assisting a customer with what they wanted.
The only thing I bought there were curtains and drapes. Very nice. I have since found other places to get what I want and dropped them like yesterday’s garbage.
When I got off their email list, I started getting offers in the mail to come back. No thanks. I think it’s been 6 years since I walked into any of their stores. Don’t plan to ever again. Same with Target.
Back in the day, JC Penney got caught raising prices 75% then pretending to have a 75% sale. That got national exposure. They think everyone forgot. I didn’t. They still do it. The last thing I bought there was a lamp. It was $150, got it for $40. Just sell it at $40 ALL THE TIME. Ripping off customers is the death knell for any store. Catering to a specific group is too. They should have built their working woman base up instead but nooooo, they had to go freaking fruit.
I hate to see anyone lose their jobs but they wrote their own obituary for years. Old man Penney must be rolling in his grave.
I used to get all my clothes from JCP. I am rather tall (6', 5.5"), and JCP carried a lot of tall clothing. I once received a big/tall catalog from them by mistake. It had Jason Witten of the Dallas Cowboys on the cover, and lots of items to choose from. I registered with them and started receiving regular delivery of catalogs and coupons, which I often used.
After the doofus took over the company, the many catalogs loaded with merchandise stopped coming. I started receiving occasional catalogs featuring unshaven metrosexuals wearing wrinkled clothing with lots of purple. I received no more coupons. The tall section in their stores became a fraction of their former size. They also started those gay mother's/father's day ads and people started calling the stores Gay C Penny. In short, the doofus ran a company that was already struggling into the ground. One almost wonders if he did it intentionally, the way Obama and the democrats uniparty have ruined America.
RIP, J. Gay C. Penny.
Have the perverts they’ve coddled up to rushed out and saved them? Nope? Didn’t think so. LOL!! Penney’s, you sell (or used to) nothing more than underwear and shirts. That’s all.
You’re no beacon of morality. You philosophically got too big for the britches you sell. You got on a “cultural bent” rather than a retail. You lost track of your real customers, now you’re kaput. But maybe Ellen Degenerate will run out and help you...
I just buy everything online, so I don’t have to go to the mall. Too many trashy people there
Check carefully. I bought the same shirt from JCP for years. All of a sudden a year or two ago, the fabric was cheaper, and the sizing started to run small. (and no, I didn't put on weight....:-) )
no worries, I just found a brand that I liked even more!
I boycotted JCP for a good while. Started going back a couple of years ago after that idiot CEO got the boot, they quit the "All Gay All Day" mantra and they brought back coupons, sales, etc etc etc. Went a couple of weeks ago and walked out with a carload of clothes, shoes, mother's day present for Mrs WBill ... for about 30 bucks. You can do pretty well there, you just need to look.
i know what’ll help them- announce that men can use women’s bathrooms-
Retail is in trouble.
Internet.
Customers have less money thanks to bammy’s recession.
Agree - I think it all ties back to the whole “corporate citizenship” crap that started way back when.
My local Sears is fairly busy, though the local Macy’’s just closed in the last wave. Personally I would expect Target to close some stores soon. My local target has been slowing down recently.
Maybe they should produce more homosexual family so-called ads! /s
I will never understand the “style” of jeans that look like you’ve rolled around in the mud.
Bub-b-b-t the economy is great!,,,,,,,,,,,,,,,,,,,,,,,,,,,says Obozo......................
Kohl’s continues to do great.
They got the “bottom” part right!
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