J.C. Penney’s cash flow tells a sad story

Marketwatch ^ | 11/12/12 | Matt Andrejczak

[jimbo123]

J.C. Penney shares were the biggest S&P 500 percentage decliner Monday, tumbling 11% to $18.41 in afternoon trades as investors seem to be growing impatient with the company’s roughly year-old transform plan.

[jimbo123]

Looks like it's bankruptcy time for JCP in 2013. I wonder if Ellen Degenerate will still collect a paycheck from them.

[dfwgator]

Too bad, so sad.

[pepsionice]

It would be a ripe time to walk in and buy Pennys but I don’t know who’d be that naive. Maybe some Chinese company?

[Rightly Biased]

Women like Coupons if they want everyday low prices they go to Wal-Mart...

they think they are getting a bargian when they get to clip a coupon... But gay marketers always know better don’t they?

[Cletus.D.Yokel]

Executive Order #2012-645: Bankruptcy laws will be nullified (national “jobs emergency”). JCP will be required to stay open under govt receivership, “just until the crisis passes”.

[TigerClaws]

Hoping they and NYT go bankrupt.

[Gabrial]

Since they kicked out the Salvation Army bellringers and started up homosexual advertising campaigns, none of my family have set foot in one of their stores. Good riddance to them.

[GeronL]

lol

part of their economic recovery, no doubt.

heh

[donna]

Why would anyone swap “Penny’s” for “JCP”?

Plus the gay stuff...

[Cricket24]

I used to love Penney’s but it’s even painful just to go into the store. It’s almost empty. No choice!

[stoneyhll]

Good one! Mr. Thompson and Mr. Mouch would be so proud.

[molson209]

investors seem to be growing impatient with the company’s roughly year-old transvestite plan.

[roses of sharon]

Such idiots, caving to the gay mafia was so silly...I was embarrassed for them.

[Jim Scott]

Eliminating ‘sales’ (while your competition maintains them) and gay-themed advertising drives away customers in that middle class market. JCP is circling the metaphorical drain and frankly, won’t be missed by many shoppers.

[The Sons of Liberty]

The stockholders need to throw the CEO and Board out on their arses!

[MissMagnolia]

Pandering to 3% of the population isn’t a winning strategy. Then, you have all the folks who object to pandering to that 3% who won’t set foot in your stores any more. Again, not a winner ... actually it’s a loser. Add to that the election last week .... and a lot more folks are hunkering down and not spending money on non-essentials, not buying Christmas presents this year, etc. .... bummer. Obummer to be exact. What’s that they say when the plane is going down ... brace, brace, brace! Anybody with common sense had better “brace”!

[Migraine]

Same here. I pay $20/pr more for my Levi’s now. I go to the Boot Barn instead of Penneys and do it with a big ole smile on my face.
I used to like Penneys; but they pushed me out the door with their Sodom/Gomorrah stuff. Who needs it?

[latina4dubya]

exactly—my sister and i were just talking about this the other day... that ever since JCP stopped their coupon program, neither of us have gone as much... the everyday low prices are not felt... seen... ironically, just recently she received a coupon in the mail from JCP...

[CodeToad]

JCP wanted to insult me and my way of life which told me they did not want my money, so I never gave them any more money.

[South40]

I wrote JCP back when they ran their gay dad ads and informed them that after being a customer for decades they had lost my business. They were too cowardly to write back. Good riddance to the company but I feel sorry for the workers who will lose their jobs, victims of the pro-gay agenda.

[HiTech RedNeck]

How about ditching Levis themselves. Go with Wrangler, or maybe Lee, who aren’t (yet) in the gay tank.

[Publius]

Directive 10-289:

1. All workers are bound to their jobs and can neither leave nor be fired under penalty of one year in prison. The Unification Board, reporting to the Bureau of Economic Planning and National Resources, possesses judicial authority. All citizens upon turning 21 must register with the Unification Board which will assign them jobs in the best interests of the nation.
2. All businesses must remain in operation and cannot close under penalty of nationalization and confiscation of property.
3. All patents and copyrights are to be turned over to the government by the use of “voluntary” Gift Certificates. The Unification Board will license those processes to all applicants to eliminate monopolies. All brand names and private trademarks are abolished.
4. No new inventions shall be produced or invented. The Patent Office is suspended.
5. All business establishments will produce the same amount every year as they did in the baseline known as the Yardstick Year, to be enforced by the Unification Board.
6. All citizens must purchase the same amount of goods every year as they did in the Yardstick Year, to be enforced by the Unification Board.
7. All wages and prices are frozen.
8. All cases arising from this directive are to be decided by the Unification Board.

[SoFloFreeper]

Let it die. Maybe it will be replaced by a business that isn’t pro-sodomite.

[ColdOne]

Again, another boo frikin’ hoo from me. JCP made a desicion so now live with it.

[Obadiah]

I'm sure the 1% crowd will step up and cover the lost sales of all those despicable backwater family types from middle America!

Look, middle Americans are sick and tired of have the leftist and homosexuals stick their finger in our eyes telling us what we have to accept.

Send catalogues to MY house with homosexuals? Yeah, goodbye.

You have a choice. We have a choice. Enjoy receivership.

[molson209]

Walmart has George jeans $8.00

[Texan5]

Between the internet and all the discount stores, I don’t understand how JCP has lasted this long-it has been a retail dinosaur for years...

[Buckeye McFrog]

You are being snarky, but FDR actually DID something like this to Montgomery Wards under the National Recovery Act.

http://www.history.com/this-day-in-history/fdr-seizes-control-of-montgomery-ward

[IllumiNaughtyByNature]

Bain Capital? Just and idea....

[upchuck]

This is really a shame. I remember when JC Penny and Sears were the go to stores. I brought some great suits at Penny’s.

Too bad they had to go freakazoid. They are finished.

[tumblindice]

It's all just a part of this rich tapestry we call life.

[bmwcyle]

Goodby to that big mistake.

[concerned about politics]

Their homosexual advocacy will (or has) destroy them.
Homosexual tolerance is just another left wing lie they're trying to force on to people.
Homosexuality is repulsive - period. It's disgusting, and most people don't want any part of it.
When JC Penny tried to force it on sane Americans, they rejected it big time - as they should.

We'll have nothing to do with their enterprise. No way will we allow our dollars to get pulled into their degenerate vortex.

[Morris70]

Gay people have more disposable income.
They are also more fashion minded .
JC Penny’s doesn’t exactly scream trendsetting .

[MayflowerMadam]

“won’t be missed by many shoppers.”

We miss it. It was our first choice for average goods — casual clothes, stuff for the house, etc. We never visited again once we noticed the gay stuff. The existence of sales, or lack thereof, had nothing to do with our choice. Degeneres. Homo couples in their ads. Uh uh. No way, no how.

[HiTech RedNeck]

I currently get Wranglers because they are still a stand-up company.

Every time I hear “Deck The Halls” I get the creeps at the line “Don we now our gay apparel.”

[Jyotishi]

No need for executive orders now, Hussein is in.

[South40]

Only Wranglers here, for both me & the Mrs.

[ilovesarah2012]

I stopped buying Cover Girl make-up and other products when Ellen became their spokesperson. Sorry, but I just don’t identify with lesbians.

[Brownie63]

Penney’s great social experiment to see what the public really thought about gays. I guess they got their answer.

[martin_fierro]

[Paladin2]

Well, I hope they are happy now.

[Rashputin]

Target’s next and suspect they’re going to go down the same drain just any time.

[BereanBrain]

I sent JC Penny an email about their anti-family advertising and policies.

I basically got the “screw up and the horse you rode in on, we don’ need your business” email reply.

How can a company be so stupid as to offend the people who buy 90% of the stuff (i.e. the rest of us)?

[Oatka]

. . . gay-themed advertising drives away customers in that middle class market. JCP is circling the metaphorical drain and frankly, won’t be missed by many shoppers.

Aye, there's the rub. In the highly-competitive field of retailing, there's far too many competitors. Once you tick off your long-term customers, they just go somewhere else and never come back no matter how you try, once again, to restructure.

There are quite a few places that have done that to me, and after a while, when something is needed, they never come to mind.

[jonrick46]

My Grandfather, a close friend of J.C. Penney, is rolling in his grave.

[BereanBrain]

Here’s the EXACT EMAIL and reply I got from JCP.
Note the reply is first, followed by a copy of my original email.

---

Thank you for taking the time to provide feedback on our Ellen commercials and partnership!

As we focus on being in sync with the rhythm of our customers’ lives and operating in a ‘Fair and Square’ manner that is rooted in integrity, simplicity and respect, we couldn’t think of a better person than Ellen DeGeneres. We are extremely proud to have her on our team.

Original Message Follows: ————————————

Form Message

Subject: General Inquiries
Topic: advertising
Comments: Over the years, my family has spent many thousands of dollars at JC Penny. Due to your support for anti-family ELLEN, we will no longer be shopping at JC PENNY. You might try having someone who represents families rather than destroys them as a spokesperson.
Email Address: (removed by user)

[RoseofTexas]

Not only gay support, BUT the store around my house has an employee who is allowed to wear her Islamic headgear which to many costumers is offensive and tacky around the store floor!! This store is located near a military base. I dropped them like a hot potato around a year ago and haven't done business with them since than!! In our very own soil..Tolerance for the muslim community and intolerance for the christian American community. I'm sure store policy in a muslim neighborhood would not allow a Christian sales person to wear a huge cross or clothing with scripture on the floor...I guarantee you!!

[fr_freak]

I know a lot of people have seen the video interview of the Russian KGB defector (Yuri something, made in the mid-1980s, I believe - it's on Youtube) who talked about the Soviets' standard psy-ops campaign for de-stabilizing entire countries. The campaign consisted, essentially, of inundating the country with propaganda that essentially trashed all of that country's cultural foundations and cultural icons so that the populace becomes "demoralized", which is to say that they have lost complete faith in their own culture, and instead cling to the new cultural icons that are invented to replace it (an example would be someone like Janeane Garafolo, who said she wanted to spit when she saw the US flag, but was choked with pride at a gay parade). A main point that o' Yuri made was that once the people were successfully demoralized, it was nearly impossible for them to make rational decisions based on hard evidence because the propaganda was so ingrained that it colored every aspect of their thinking. An example might be how many lefties are incapable of seeing members of certain minority groups as ever being criminal or evil - if one of them misbehaves, it is only because he was oppressed, discriminated against, etc.

Well, the reason I bring this up is because when I see a company like JCPenney engage in this pro-gay campaign at the expense of their own economic viability, I can't help but wonder if this is the result of their "demoralization". Even while they are going bankrupt, they CANNOT believe that it could be because they alienated regular Americans with their pro-gay stance, because in their minds, EVERYONE is pro-gay, only the bad fringe extremists disapprove of gay dads and whatnot. Even while their stocks plunge and sales dive, they cannot see the true cause because it goes against their programming. It is the only thing that explains their financial suicide. Even incompetence doesn't explain it.

I see this also with your average Democrat voter. They literally believe that EVERY SINGLE THING bad that happens in this country is because of Republicans/conservatives. In fact, what I see is that the very action of doing something corrupt, in their minds, automatically equates to "conservative". They cannot see the corruption of the Democrats, because Democrats are ALWAYS the good guys, so if a Democrat does something bad or fails, it must be the fault of a Republican somewhere, a sort of universal "Bush's fault" mode of thinking.

JCPenney's will most likely die, but they will blame it on Republicans/conservatives even as the last window is shuttered.

[pepsi_junkie]

Reading this article and the link within it gave me some new insight into their master plan. Sure, we all see the “no sales” and “all gay, all the time” stuff but that’s just marketing stuff. The real plan to a fundamental change from traditional department store to a collection of small brand-name shops all under one roof with a central cafe. The problem I have with this idea is that we have it already, it’s called the shopping mall. Why do I need JC Penny to recreate it on a smaller scale? I fail to see what the draw is.