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J.C. Penney stock sinks on falling sales
CNNMoney ^ | May 16, 2012 | Maureen Farrell

Posted on 05/16/2012 5:27:00 PM PDT by fwdude

NEW YORK (CNNMoney) -- J.C. Penney gave investors two reasons to ditch the stock: the retailer said Tuesday that it is suspending its dividend and that sales are dropping dramatically.

The budget-conscious chain said same-store sales dropped roughly 19% in the first quarter of 2012.

(Excerpt) Read more at money.cnn.com ...


TOPICS: Business/Economy; Culture/Society; News/Current Events
KEYWORDS: blunders; boycott; corporateamerica; homosexualagenda; jcpenney; retail
The EneMedia won't admit one of the main reasons for the unprecedented drop in sales, because it does not conform to the "narrative" that must be pushed. Maybe society is right and faggots ARE wrong after all.
1 posted on 05/16/2012 5:27:05 PM PDT by fwdude
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To: fwdude

Obama’s gay pride week doesn’t seem to be working out as planned.


2 posted on 05/16/2012 5:30:32 PM PDT by jimbo123
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To: fwdude

penneys had that lesbo commie as a spokesfag and now sales plummet. bwahahahahhahahaa!!!!!!!!!!!!!!!!!!!!!!!!!!!


3 posted on 05/16/2012 5:31:18 PM PDT by biggredd1
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To: biggredd1

Don’t doubt that this is the prime reason, even though the Leftists will spin it like a Mexican top.


4 posted on 05/16/2012 5:32:43 PM PDT by fwdude
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To: fwdude

With all due respect, what is the point in using that word? ugly

JCPenny’s store is terrible now. They changed everything about it. Its like some college grad know it all came in and decided to change what works. Its become sterile, choppy and cold. I dont even go anymore


5 posted on 05/16/2012 5:33:04 PM PDT by GoCards (I am a Hobbit)
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To: fwdude
To the headline: no, it has to do with their idiot “no sales”, “no deals” strategy.
6 posted on 05/16/2012 5:33:23 PM PDT by svcw (If one living cell on another planet is life, why isn't it life in the womb?)
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To: fwdude

The news ain’t gay!


7 posted on 05/16/2012 5:35:04 PM PDT by Revolting cat! (Let us prey!)
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To: GoCards
The one thing I hate to see in their ads is "70% off".
70% off what you idiots?
8 posted on 05/16/2012 5:39:20 PM PDT by AGreatPer (Any Republican. Just NO Obama.)
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To: GoCards
With all due respect, what is the point in using that word? ugly

Yes, it is ugly. It fits their lifestyle.

Can we just cut the political correctness? This is Free Republic?

9 posted on 05/16/2012 5:41:12 PM PDT by fwdude
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To: fwdude

That company has been in financial trouble and they do something like that? What were they thinking?


10 posted on 05/16/2012 5:46:42 PM PDT by GeronL (The Right to Life came before the Right to Pursue Happiness)
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To: fwdude

I always used to shop at Pennies and I had their Credit Card.

One time put about $200 worth of stuff on the JCPenny card, later that month I moved and in the chaos of moving I inadvertently forgot to pay the card. Ok, my bad.

The next month when the bill came and I discovered my mistake I paid the bill in full. I wasn’t even that upset about the $35 late fee.

But even though I shopped there for over a decade and immediately paid my bill in full they still reported my missed payment to all the credit agencies and it hurt my credit rating, which hurt when I had to get a car loan.

I could see if I maxed out the card and/or they had to send multiple notices of lack of payment. But to do that to one of their good customers for just missing one payment.

When I called them to complain they claimed that it was the company they use for the credit card that did that not them and they couldn’t do anything about it.

My JCPenny card went into the shredder right after that and I never went back.


11 posted on 05/16/2012 5:47:19 PM PDT by qam1 (There's been a huge party. All plates and the bottles are empty, all that's left is the bill to pay)
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To: fwdude

Its rude. Has nothing to do with political correctness. Carry on if you desire.


12 posted on 05/16/2012 5:47:56 PM PDT by GoCards (I am a Hobbit)
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To: fwdude

The former head of Apple Retail is now CEO of JCP. He was brought in to turn the chain around. This will take some time. The discontinuation of the perpetual sales and coupons was to streamline the shopping experience. The return policy has been made more friendly as well...


13 posted on 05/16/2012 5:48:18 PM PDT by ace2u_in_MD (You missed something...)
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To: fwdude

I sent a letter warning JCP when they announced their spokeswoman. They replied saying thanks, but they had already made the decision and would not change it.


14 posted on 05/16/2012 5:48:35 PM PDT by charlie72
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To: charlie72

JPC has no sales (under their new format.)

Kohl’s has a sales five times a week. Who is winning ?


15 posted on 05/16/2012 5:51:03 PM PDT by Eric in the Ozarks
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To: GoCards

Okay. How would you prefer I refer to sodomy?


16 posted on 05/16/2012 5:51:03 PM PDT by fwdude
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To: Eric in the Ozarks
JPC has no sales (under their new format.)

In other words, no bargaining room. Wow, what a winning strategy.

It's like these "reconditioned pre-owned" (used) car superstores which say they offer a no-haggle pricing. So, whose price am I forced to accept?

17 posted on 05/16/2012 5:53:57 PM PDT by fwdude
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To: fwdude
pandering to the filthy 1% isn't always a good bet...
18 posted on 05/16/2012 6:00:43 PM PDT by Chode (American Hedonist - *DTOM* -ww- NO Pity for the LAZY)
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To: fwdude

Let’s hope they right their ship and get sales going north again. My friend works at the corporate office and wouldn’t want her or other good folks at Penney’s unemployed.


19 posted on 05/16/2012 6:06:53 PM PDT by tflabo (Truth or tyranny)
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To: fwdude

20 posted on 05/16/2012 6:11:16 PM PDT by Jeff Chandler (The best diplomat I know is a fully-activated phaser bank. - Montgomery Scott)
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To: fwdude

Serves them right for hiring Ellen Degenerate.


21 posted on 05/16/2012 6:14:36 PM PDT by patriot08 (TEXAS GAL- born and bred and proud of it!)
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To: AGreatPer
70% off what you idiots?

And they are still over priced, maybe when the get close to Walmart prices I might consider them.

22 posted on 05/16/2012 6:15:51 PM PDT by ReformedBeckite (1 of 3 I'm only allowing my self each day)
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To: ace2u_in_MD

The new return policy is killing them, though they won’t admit it.

Recently, I had to exchange an old suit, one that had been clearance out two years ago, because the customer had a receipt that said, “JFerrar, black stripe jacket/pants”.

Well, that was the new one and even though I know the merchandise in the suit department and knew the suit was an OLD one, they made me give him an even exchange for a brand new suit.

He also had another old suit, one that was worn and dirty, which he tried to say he bought a couple of days earlier. Since he had no receipt, they offered him bottom line price of $20.00 for the jacket and $10.00 for the pants. He took it.

Oh and they will give cash if a customer insists. So, we have people coming in with old merchandise, or name brand merchandise that they have purchase elsewhere and they are getting cash back for it.

They claim that the policy will cause more customers to be loyal to them and that loyalty over the course of time will offset the losses due to chiselers.

It is frustrating/demeaning as a sales associate to have to treat these liars and thieves like a valued customer. The guy I mentioned above just chatted me up as if he wasn’t a big, fat liar and thief getting over on me.

Morale is VERY low among employees.


23 posted on 05/16/2012 6:19:34 PM PDT by Jvette
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To: qam1

I learned about thirty years ago the two cards you never get are JC Penney’s and Sears.
For the very reasons you have stated, unfortunately they are some of the easiest to get.


24 posted on 05/16/2012 6:22:49 PM PDT by svcw (If one living cell on another planet is life, why isn't it life in the womb?)
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To: jimbo123

on june 1st i get a dividend check. priority two is paying them off. they can stick there 29 % interest rate.... last cc bites the dust!!!


25 posted on 05/16/2012 6:27:54 PM PDT by Donnafrflorida (Thru HIM all things are possible.)
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To: svcw

“their idiot “no sales”, “no deals” strategy”

It’s legit. My wife works there. (I hope she gets to keep working there...) Before this, they never sold anything at the original ticketed price. It was the “mark it up to mark it down” big box retail strategy we have all grown up with; especially in jewelry. Now they ticket at the price it would have sold for anyway.And they literally save millions in cost of printing store signs and promo materials, sales floor resets, etc. It’s a big gamble on human nature and common sense, no doubt, but they expected to take a beating this year - and they are. Payroll is cut to the bone to weather the storm.
I’m not sure it was too wise to muddy the waters with the social issues, but at least it keeps them in the headlines..


26 posted on 05/16/2012 6:31:33 PM PDT by AndrewB (FUBO)
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To: fwdude

When I first started shopping at Penneys they had soft goods and hardgoods. They sold nice tools and guns. You could order sporting goods from their catalog.

Some Genius decided that since womens clothes had the highest markup they would go to nothing but clothing and just a few odds and ends.

Well those older stores were just too large for nothing but clothes and a few odds & ends. There is just so much you can do with womens clothes. They don’t take over the whold floor space even when you add the mens clothes.


27 posted on 05/16/2012 6:47:52 PM PDT by yarddog
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To: qam1

Very unusual for a less-than-60-days-in-arrears to be reported to the credit agencies.


28 posted on 05/16/2012 6:58:24 PM PDT by steve86 (Acerbic by nature not nurture TM)
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To: yarddog

I was there today at jcp. Call me crazy but I just didn’t feel good about it. KIept looking for the low, low price stuff that I rarely found and it was garbauje.


29 posted on 05/16/2012 6:58:37 PM PDT by AGreatPer (Any Republican. Just NO Obama.)
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To: AGreatPer
I think I just invented a new name brand: GARBAUJZZ

Bet I put a new line of blue or green or purple or yellow JEANS, it would sell.

30 posted on 05/16/2012 7:04:59 PM PDT by AGreatPer (Any Republican. Just NO Obama.)
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To: AndrewB
JCP's latest commercials are downright

creepy

freaky

I shopped @JCP for mother's day (both petite grandma's luv Alfred Dunner fashions) and was very disappointed in the new layout of the store. The prices were lower, but the selection wasn't nearly the quality/quantity they once stocked.

This kind of 'change' has me forgoing the mall and seeking what I want to purchase online. Sad, since I would prefer to support local brick and mortar commercial enterprises rather than see them go the way of Woolworth/Woolco, Caldor, Bradlees, Korvettes, Jamesway, Lechmere, Service Merchandise, S. Klein, Montgomery Ward, Zayer's, etc.

31 posted on 05/16/2012 7:19:45 PM PDT by wtd
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To: fwdude

I have sopped at JCP’s for years, I am getting ready to spend about $500.00 on new clothes, JCP wil NOT be on my list of places to go...


32 posted on 05/16/2012 7:23:17 PM PDT by stockpirate (Romney, Ann Coulter & our ruling republican elites, are Big Government socialists, Grand Ole Sociali)
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To: fwdude; Chode

oh gee I wonder why?


33 posted on 05/16/2012 7:36:32 PM PDT by Morgana (I only come here to see what happens next. It normally does.)
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To: Jeff Chandler
thank you...!!!
34 posted on 05/16/2012 7:41:55 PM PDT by Chode (American Hedonist - *DTOM* -ww- NO Pity for the LAZY)
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To: fwdude

They had this report on Gerry Willis tonight and not one of the econ wizards said anything about the pro-gay ad campaign which has really turned people off, especially after Degenerate used her show to defend them...

The power of the purse is huge. Gays use it all the time...
Tit for tat.


35 posted on 05/16/2012 7:46:16 PM PDT by matginzac
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To: GoCards

Forgive me for entering a tete a tete between you and Fwdude but while it may be rude to use that language in some circles, on the Free Republic it fits in pretty well...
And also here, no one needs another’s permission to “carry on”.


36 posted on 05/16/2012 7:51:29 PM PDT by matginzac
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To: charlie72
I sent a letter warning JCP when they announced their spokeswoman. They replied saying thanks, but they had already made the decision and would not change it.

Exact same thing with me. Their reply was pretty much, "Oh, well."

I had been shopping there more than any other store for nearly 40 years.
37 posted on 05/16/2012 7:59:04 PM PDT by texas_mrs
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To: Morgana
pandering to the filthy 1% is not always a good bet...
38 posted on 05/16/2012 8:04:02 PM PDT by Chode (American Hedonist - *DTOM* -ww- NO Pity for the LAZY)
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To: biggredd1
penneys had that lesbo commie as a spokesfag and now sales plummet. bwahahahahhahahaa!!!!!!!!!!!!!!!!!!!!!!!!!!!


39 posted on 05/16/2012 8:35:03 PM PDT by massmike (The choice is clear in November: Romney or Caligula!)
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To: fwdude

I used to buy a lot of clothes at Penneys - they usually had a decent “big & tall” section. Not anymore - now I’m stuck with just Belks.


40 posted on 05/16/2012 8:41:31 PM PDT by Some Fat Guy in L.A. (Hope springs eternal - maybe the Bucs will break .500 this year)
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To: wtd
Korvettes

Now there's a flash from the past...

41 posted on 05/16/2012 8:43:19 PM PDT by RckyRaCoCo (I prefer liberty with danger to peace with slavery, IXNAY THE TSA!)
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To: GoCards

Being a faggot is rude.

It fits in every way.


42 posted on 05/16/2012 8:47:08 PM PDT by editor-surveyor (Freepers: Not as smart as I'd hoped they were.)
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To: RckyRaCoCo
Penncraft tools.
Lawn equipment.
Guns. .
BB guns.
It is a ladies store now.
They died long ago.
43 posted on 05/16/2012 9:06:26 PM PDT by warriorfor honor (With out us they die)
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To: RckyRaCoCo
Penncraft tools.
Lawn equipment.
Guns. .
BB guns.
It is a ladies store now.
They died long ago.
44 posted on 05/16/2012 9:10:03 PM PDT by warriorfor honor (With out us they die)
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To: fwdude
Buh Bye!

Hire a gay CEO without a clue, and Ellen Degenerate as spokesperson and suffer the consequences...

This one's for you, Anita!

45 posted on 05/16/2012 9:46:39 PM PDT by publius911 (Formerly Publius 6961, formerly jennsdad)
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