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(JC) Penney reports massive loss for 4Q
Yahoo Finance ^ | 2/27/13 | Yahoo Finance

Posted on 02/27/2013 3:04:15 PM PST by mn-bush-man

...snip...

The company, based in Plano, Tex., says it lost $552 million, or $2.51 per share, for the period ended Feb. 2. That compares with a loss of $87 million, or 41 cents per share in the year-ago period.

Revenue dropped 28.4 percent to $3.88 billion.

Analysts were expecting a loss of 23 cents on revenue of $4.08 billion.

Revenue at stores opened at least a year dropped 31.7 percent.

...snip

(Excerpt) Read more at finance.yahoo.com ...


TOPICS: Business/Economy; Culture/Society; News/Current Events
KEYWORDS:
Looks like CEO Ron Johnson has failed MISERABLY.

And this is about a lot MORE than just coupons.

1 posted on 02/27/2013 3:04:18 PM PST by mn-bush-man
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To: mn-bush-man

I have an idea, Let’s change our discount program in the midst of a second great depression and eliminate perceived and actual savings to customers that are loyal to our brand. Yeah, that’s a good idea!

Let’s take a company that was huge in catalogue/mail order sales and eliminate and downplay that aspect WHEN web sites like Amazon are cleaning our clock at selling ANY product on line. Let’s not use our size and distribution network to our advantage and hire a strong website department. What a waste of money! Who would want to buy online when they can have all the fun of going to the mall in the dead of winter?

Ron Johnson should not only be out, he should be tarred, Feathered and sued by the stock holders for malfeasance and fraud. He should be bankrupted like he has bankrupted a once proud and strong American company.


2 posted on 02/27/2013 3:14:50 PM PST by Jim from C-Town (The government is rarely benevolent, often malevolent and never benign!)
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To: Jim from C-Town

Are they saying that there aren’t enough lesbians and queers to keep them going?


3 posted on 02/27/2013 3:23:47 PM PST by dearolddad (/i>)
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To: mn-bush-man
Martha Stewart now has a court fight on for breach of contract.

Seems Macy's felt they had exclusive rights to some of Marthas line, and she is now selling it through JCP.

Might not be a very bright move on Martha's. Seems like Macy's CEO refuses to talk to her.

4 posted on 02/27/2013 3:24:45 PM PST by mountn man (ATTITUDE- The Pleasure You Get From Life, Is Equal To The Attitude You Put Into It.)
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To: mn-bush-man

Happy Fatherth Day, Mithter Johnthon!!! Hugth and kitheth.


5 posted on 02/27/2013 3:26:06 PM PST by Jeff Chandler (WHAT DIFFERENCE DOES IT MAKE?)
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To: Jim from C-Town

Jim, you’re spot on. You sound like you know your stuff... perhaps you should take the helm!


6 posted on 02/27/2013 3:27:02 PM PST by mn-bush-man
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To: Jim from C-Town

Now.. THAT, is a CRAPPY quarterly report... YIKES!


7 posted on 02/27/2013 3:29:20 PM PST by SomeCallMeTim ( The best minds are not in government. If any were, business would hire them)
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To: Jim from C-Town

Now.. THAT, is a CRAPPY quarterly report... YIKES!


8 posted on 02/27/2013 3:29:31 PM PST by SomeCallMeTim ( The best minds are not in government. If any were, business would hire them)
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To: mn-bush-man

Shame on the Board of Directors for falling for the siren song of a Bay-Area Apple Manager selling the new-age, iphone, tech-rules marketing play-book.

In the 1950’s, it was the General Motors guys who knew everything about business that applied to everyone. In the 1980’s it was the Coke and Pepsi guys whose knowledge and experience applied equally to all. In the 1990’s it was the PC guys who were the business gurus, and in the 2000’s it was the networking guys. For now anyway, its the Apple guys who can tell everyone how to run their businesses....


9 posted on 02/27/2013 3:30:32 PM PST by PGR88
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To: mn-bush-man

LOL... guess that homosexual thing isn’t working out so well.


10 posted on 02/27/2013 3:35:26 PM PST by Gator113 ( REGISTER THE DAMN LIBERALS and leave my guns alone!!)
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To: Jeff Chandler

Back when I was in high school (WAY before ‘internet’ lingo), ‘PAL’ had an alternate meaning to the Beavis and Butthead crowd...what the hell was Penney’s thinking?


11 posted on 02/27/2013 3:35:47 PM PST by who knows what evil? (G-d saved more animals than people on the ark...www.siameserescue.org.)
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To: mn-bush-man

The problem is, their advertising is not keeping up with the times. Obviously, they need to add a transsexual and a polyamorist to their line-up. Gays and lesbians are so, like, last year.


12 posted on 02/27/2013 3:36:37 PM PST by Albion Wilde (Gun control is hitting what you aim at. -- Chuck Norris)
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To: mn-bush-man

Karma.


13 posted on 02/27/2013 3:41:46 PM PST by cblue55 (The original point and click interface was a Smith and Wesson.)
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To: cblue55

JCPenneys, No-See Pennies.


14 posted on 02/27/2013 4:44:42 PM PST by Secret Agent Man (I can neither confirm or deny that; even if I could, I couldn't - it's classified.)
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To: mn-bush-man

No surprise. Johnson’s running that company like Obama’s running the country. Spending everything he can as fast as he can. I think they both have the same goal ... complete destruction of Penneys (Johnson) and our country (Obama).


15 posted on 02/27/2013 4:58:33 PM PST by al_c (http://www.blowoutcongress.com)
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To: mn-bush-man

I certainly could do no worse.

Think of all the money wasted on this stupid ‘everyday low pricing’ and color coded cost structure. No way would they ever beat out the big box Wal-Mart and Targets on pricing. They needed service and selection along with rapid online purchase with free delivery and no questions asked free returns from a network of warehouses, PLUS a more middle of the road Middle Class marketing stressing quality and value.

They had to be competitive with Macy’s, NOT Target or K-Mart/Sears. They blew it. Ron Johnson is to blame and he and the entire board should be out on the street and in court for malfeasance.

This was a more avoidable disaster than the Exon Valdez accident. At least Joe Hazelwood was drunk at the time of the accident. Johnson and the board where presumably conscious and sober. They are guilty of criminal stupidity!


16 posted on 02/27/2013 5:55:58 PM PST by Jim from C-Town (The government is rarely benevolent, often malevolent and never benign!)
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To: FReepers; Patriots; FRiends



Let's Put This Baby To Bed!!
Less Than $300. To Go Green!!


Please Help End This Quarter's FReepathon


17 posted on 02/27/2013 5:58:01 PM PST by onyx (FREE REPUBLIC IS HERE TO STAY! DONATE MONTHLY! IF YOU WANT ON SARAH PALIN''S PING LIST, LET ME KNOW)
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To: dearolddad
Are they saying that there aren’t enough lesbians and queers to keep them going?

From reports in the media, you would think the GLBT folks are 85% of the population.

18 posted on 02/27/2013 6:01:57 PM PST by FatherofFive (Islam is evil and must be eradicated)
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To: mn-bush-man
Looks like CEO Ron Johnson has failed MISERABLY.

Dang, poor ol' Ron must not have enough QIA (queers in advertising) on board yet.

19 posted on 02/27/2013 7:27:33 PM PST by houeto (https://secure.freerepublic.com/donate/)
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To: mn-bush-man

Yes, the limo-liberal CEO stuck his thumb in the eye of the customer base he had. Lookin’ for love in all the wrong places.


20 posted on 02/27/2013 8:32:07 PM PST by SaraJohnson
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To: mn-bush-man

all the lefty marketing mags are falling over themselves trying to come up with plausible reasons for the massive failure. Most are citing a “loss of trust” between management and store employees.

Everyone knows the truth.


21 posted on 02/27/2013 9:22:10 PM PST by willyd
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