Skip to comments.JCPenney stock plunges after bad holiday
Posted on 01/12/2013 5:36:33 AM PST by oh8eleven
"Penneys sales at stores open at least a year plummeted more than 30 percent through most of the crucial holiday season, sources close to the company told The Post this week."
(Excerpt) Read more at nypost.com ...
“JCPenney stock plunges after spitting on American Family Values”
Glad to hear this.
I guess homosexuals prefer shopping at Macy’s.
Just a thought, but maybe MOST folks STILL find homosexuality rather repellent ?
Their “Sodom and Gomorrah” line of clothing isn’t cuttin’ it?
Feel good story of the day.
Bad 4th quarter results? That’s so gay.
Just read the whole thang, and not once was there a mention of gay television ads. God forbid that a news source would report even the possibility of an economic push-back against retail indoctrination.
My sister-in-law visited our local Penny's and asked to speak with the manager, who turned out to be a completely normal looking/acting early middle-aged fellow. She wanted to tell him personally, face-to-face, why she was no longer going to shop at Penny's. Paraphrasing from memory ...
Penny's didn't have to take sides in this public controversy. They already had both sides shopping in their stores. There was no need to weigh in on one side or the other.
But, since Penny's did decide to take sides, then they should expect their customers to respond in similar fashion. I am not going to advance the business agenda of a company that champions something I am convinced is destructive to individual and social well-being.
She told me that she thought she detected agreement flickering behind his otherwise impassive expression. He was polite and promised to pass her concerns on to senior management.
Post of the day.
What a brilliant management decision that turded out to be.
I don't miss them. I wonder if they miss me.
Just before “Operation Desert Storm” there was story after story of Marines in the Phillipines getting beaten and killed. One after another, in the mainstream press. It was precisely at that time JC Penney did a “Celebrate The Phillipines” marketing push. As the wife of a Marine, I called them and made it clear what a disrespectful and horrible idea that was, considering the recent news events. I got the basic corporate-speak about how marketing campaigns are set up way in advance, etc., and they had no plans to pull it. I was incensed! I put up flyers all over El Toro (against the rules)and got my gal pals to call Penneys over and over. Nothing came of it.
It is sweet music to my ears every time I hear about Penney’s struggling financially. They don’t give a damn about this country so they can kiss my ass. I hope they go under tomorrow!
Memo to: Ron Johnson, CEO
Re: Current transition to Gay C Penney
Although its a little late now, here are a few areas where you may want to focus on the next time you are selected to lead a corporation to extinction:
1. In order to transform a 100+ year old retail operation successfully, you may want to slowly introduce changes into the existing business model next time: Simply stating that your going to provide products at low prices rather than continue the companys traditional coupon-based business model is one thing, but to then give your long time customers the one finger salute by suggesting they cant grasp the marketing concept is no way to ingratiate yourself with the buying public.
2. This one would seem to be obvious, but somehow you managed to miss it forgoing 98% of the population to advertise and market to 2% of the population that wouldnt be caught dead shopping in your stores is not a winning strategy.
3. Printing catalogs that support the homosexual agenda will only lessen the likelihood of a turnaround; this is especially true when the catalogs come out during traditional holidays like Easter, Fathers Day, etc. Again, this is another one finger salute to your former customers.
4. Coming out and defiantly defending 13, despite overwhelming evidence that is has caused great harm to the companys bottom line and employee morale, is not advised.
5. The fact that you have not chosen to relocate yourself and your family to the DFW area signals to every employee at JCP that this is a short term gig; judging from the results to date, one that has already lasted too long.
6. And finally selling Apple computers via a retail outlet is about as difficult as selling water in the Sahara; whatever minor success you may have had at Apple will not transfer to success selling clothes and home furnishings. Sadly, the employees of the company will be the only ones to suffer for your monumental ineptitude.
There is no magic in their catalogs anymore, they're very flat. No eye path to lead the reader, no compelling descriptions, no associated imagery to suggest appealing use, no add on sales of products someone might want along with an item, it's just a bunch of open space with lonely people mugging the camera, it's as if the fools had never even heard of square inch analysis. Your best sellers get more square inches, add on sales get far less but they're nearby or at least a bug or banner directing to them.
But no, they have poor little coffeemakers floating in the aether without much company, friendless. Very brightly colored aether, though, and very stylishly color blocked. If color blocks were their product they'd be going gangbusters.
Maybe JC Penney and Microsoft can merge. It looks like Windows 8.
They were streaming the video to all employees and once Ellen Degeneres was introduced you could have heard a pin drop. I remember one of her first lines being something like “as employees of JCPenney, we share a lot of the same values”. That caused quite an uproar... both of outright laughter and disgust. Needless to say, it was not well received, and most of the people I spoke to knew it would not go over well with their existing customers.
Given the results from the day Ron Johnson walked through the doors in November 2011, it has been a total and complete disaster.
You left out the obvious. Filling a clothing store with shapeless, downright ugly women’s clothing that looks like it is designed for the obese, is not the way to get the fairer sex to flock to your establishment. Particularly when you color that clothing in tones that make said women downright nauseous.
As far as the color blocks, if memory serves those were intended to represent months of the year; the plan was to have light boxes throughout the stores to illuminate the store with the “color of the month”. Who knows what they were thinking there... apparently they believed that their customers were so stupid they could better keep track of months by color rather then by name. Given that Obama was reelected that may have been the only aspect of their marketing strategy they had right.
Way to go! So proud of you and your service to our country thru your active support of your Marine husband.
Military wives are essential to the morale and well-being of our forces, and as a Naval aviator’s wife myself (as well as my being a USAF officer), our bonds of love for our military spouses get stretched way more than civilian wives could ever understand! Maybe a policeman, CIA or FBI agent’s wife could understand, but how often do they kiss their husbands goodbye and know they won’t see them for months, won’t know where they are going, won’t be able to talk to them upon demand, will worry about them going into harm’s way, will have to support other wives in the same situation, will have to be mom & dad and keep things going?
Big hug from this military wife! We are sisters because of our circumstances, and that makes us part of a family of patriots.
There is a reason certain formats have become standardized, and the USPS plays a role. They could be paying a very dear price for this futile effort to stand out, for an area in which standing out may not be received as a positive. I'd imagine they're blowing off a postal discount or two in so doing. I'd also imagine the incidence of mangled printed matter in the mailstream is higher, too. All for a very illusory benefit or none at all.
Back to the color block thing, there is a basic thought behind identifying selling periods that is time-tested, and that would be traditional seasonality. Tying your promotions to an event or holiday, studying your historic trends and sales metrics, and creating a compelling story with product that is timely and proven as far as desirability. It answers the question that goes through everybody’s head when opening the mailbox and seeing a catalog. Why are you sending me this, and why should I care? What's in it for me? This is true for e-mail blasts and splash pages also.
But no, traditional anything has been chucked out the window in favor of ... what?
From all outward appearances and their quarterly financial performance, it would appear the "efforts" were to see how quickly a small number of "marketing and retail geniuses" could drive a 100 year old retail company into bankruptcy.
Well, midmarket D&S is a tough place to be these days. They’re getting squeezed from below by “better” discount chains like Target and above them, the regional, traditional department stores know their turf far better as far as product and merchandising. They’re defending that turf aggressively.
Sears is sucking wind, too. JC Penney would be experiencing an existential challenge even without this bizarre, flailing attempt at Oprahfication. So, it’s not all the fault of the strategy, if such can be called strategy, but it couldn’t have come at a worse time.
I'm with ya' on this.
I just need time to go spend that $25 gift card I got years ago, though.
I wonder when they recognize revenue from a gift card?
Apparently passing out "pins" isn't bringing the customers in. This guy demonstrates the "peter principle" in action.
Last time I walked into a Penney’s (at least a decade ago) they had Spanish & English signs for each department in big lettering.
So they’ve been pandering for quite some time.
Their clothing was always mediocre at best (their catalogs from the 70s are a hoot).
This latest mis-step probably has J.C. rolling in his grave.
Maybe adding a JCP line of petroleum jelly and AIDS remedies would help draw in their target demographic.
I sure like that sign. My uncle worked for A&P for years in the 60s-70s.
Gheeze - no BARF alert?
Sales to gays increased 100%.
GayCPenney - put some ice on it
I figure gay customers could increase 100% it wouldn’t make up for the drop in straight customers.
I am a "hate buying clothes or looking at clothes" kind of guy, and would never dream of flipping through a fashion flyer ha!
But happened to walk through Sears before Christmas and thought the men's clothing looked OK. There was an outdoor-themed section and I actually spent 90 seconds there (unusual). The prices seemed about right. Maybe this is unique to the PNW, I don't know. Sears Holding still has financial issues but the in-store marketing seemed alright.
I like your version better---it is closer to the truth than one realizes.
No the rule is NOT that the customer is ALWAYS right it is the customer may not be right but they ARE the customer so treat them the way you would want to be treated if you were in their shoes.
Great marketing plan. I guess we can say that JC Penney sucks, literally and figuratively.
1. The customer is always right.
2. See rule #1.
It's as simple as that.
Well, apparently the "brilliance" of Ron Johnson and team has modified that a bit:
1. The customer is always gay (or a supporter of perversion).
2. See rule #1.
3. File for bankruptcy.
What happens when homosexuality can be detected in the womb and fixed? What happens when homosexuals can use artificial insemination to create gays? What a brave new world we have.
Thanks. That’s one of those rare example of a typo being more accurate than what was intended.
Actually, Sears was pretty much the only normal looking place in the entire mall. Most everything else was WEIRD.