thank you...!!!
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 ...
Serves them right for hiring Ellen Degenerate.
And they are still over priced, maybe when the get close to Walmart prices I might consider them.
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.
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.
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!!!
“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..
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.
Very unusual for a less-than-60-days-in-arrears to be reported to the credit agencies.
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.
Bet I put a new line of blue or green or purple or yellow JEANS, it would sell.
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.
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...
oh gee I wonder why?
thank you...!!!
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.
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”.
pandering to the filthy 1% is not always a good bet...
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.
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