Skip to comments.J.C. Penney Plunge Marks Greatest Single-Day Loss In 40 Years
Posted on 05/16/2012 1:53:19 PM PDT by Bill Buckner
Call it J.C Penneys private flash crash.
The stock today plunged 19.7% to close at $26.57. Thats even worse than Black Monday 1987. On that day, the stock lost a hair less, 19.2%.
Its unclear if this is the stocks worst day ever. (Perhaps it suffered an even worse day during the 1930s.) However, it is clear that this is the worst single-day performance in the past 40 years. Thats as far back as our FactSet data goes.*
(Excerpt) Read more at forbes.com ...
Yeah, and their Summer catalog features Lesbian partners with their kids too.
I just cancelled my JCPenney’s Gold card last week...
Families must be getting the new catalog in the mail that features same-sex couples...
Screw these sodomy-pushers. I’ll never shop there again.
Let’s see if they can make it on “alternative-lifestyle” business.
Live by perversions, die by perversions.
Let them become known as the store for sodomites.
What is it about these Harvard MBAs?
They need to go through de-programming or something before actually running a company.
Is that a play on words? ; )
Just talked to a customer service operator about how my family will no longer be shopping at JC Penny due to the 2 homosexual moms featured in the catalog. I said that it must be more than me that is upset as their stock is diving.
Woman was very nice and said “We’re in the same boat, I agree with you”.
They made it publicly known they were marketing to sodomites. I’ll never shop there again, neither will my wife. She says their merchandise has gotten terrible. I haven’t been in one in over a year so that was news to me...
Business is limp? Stock price deflated? Should JCP pack it in?
Old Mr. JC Penney must be turning over in his grave. Whoever is running the company now and made all of these changes has ruined it — both with the in-your-face homosexual crap and the “there will be no more sales, just low prices” crap. I get their new “catalogs” in the mail about once a month, and they are a waste of paper. What they are advertising, I would never buy, as it is all for the under 30 crowd. Too bad — another American institution down the dumper.
Penny’s problem has little to do with lesbians in the catalog.
They hired a new Harvard MBA honcho from Apple expecting miracles.
He went from selling iconic items to selling commodity items.
Up until just recently, I bought almost all my clothes from JCP. Nice selection of good quality men’s clothes in tall sizes for very reasonable prices.
The pro-homosexual ads are keeping me away until they dump the CEO and reestablish a family friendly attitude.
Jan 24, 2012: Jim Cramer Tells Viewers to Buy Merck, J.C. Penney
Awesome. Now, does the boycott or outrage over the pro-sodomy position that decent people have expressed have anything to do with the financial loss JCP is experiencing? Or is this just sweet schaedenfreude?
They should merge with KMart/SEARS
I remember black monday L.A. still had the Herald Examiner and it was the story above the fold imagine that
Yeah right ... millions of consumers across America have stopped shopping there; voters have throw out many incumbent milk toast Republicans the last two elections; wake up and smell the coffee ... people aren't going to take this crap any more ...
embracing the gay agenda and telling the world your customers are looking for “social values” is bound to hurt the company, by the way whats the discount on those values now?
Millions of consumers did stop shopping there - because they eliminated their discounts.
The catalog just came out this month (May).
Penney’s problems started when they hired Ron Johnson.
I get the catalogs too. I used to order a lot from them, as they carry clothes for tall men. The clothes I'm wearing at work now are from JCP. However, the catalogs are pathetic. Instead of showing a normal looking guy what their clothes look like, the show nothing but gay-looking unshaven metrosexuals who dress nothing like a regular guy. Those catalogs cannot be helping them to sell clothes.
And wasn’t JCPenney one of the “sponsors” who proclaimed they were going to remove their advertising from Rush’s show (it was hard to keep track of the ones who were really leaving vis-a-vis the ones who made the statement to get some publicity).
Who did those clowns think shopped at their stores?
JC Penney - Every Gay Matters
They picked the guy that was running the Apple Stores. You believe that?
They pick a guy from a customer intimate company to run a value play.
He had crappy, bulky, but very hip products for which people were willing to pay unbelievable premiums. They pick him to run a store getting squeezed by the Targets and the WalMarts.
He hires what had to be Target’s image firm and the FIRST thing they do is go political. It’s something EVEN TARGET hasn’t done yet. “We used circles with Target, let’s switch to rectangles with JCP!”
I’m telling you, there is a silent majority in this country that is sick to death of the bullying they are getting from the hands of the sodomites and tribadists.
“Pennys problem has little to do with lesbians in the catalog.”
Well, their revenues have taken a dive at least to the extent that my wife and I might have shopped there.
We also don’t watch channels anymore that have started running openly Gay ads recently, nor ones with Gay agenda programming. They may want to be “in my face” but I still have some say in the matter.
JC Penny has the same problem as the federal government -
They have both forgotten their prime mission and the reason for their existence.
The lesbian problem is just getting underway, that catalog is for May.
The financial problems began when Ron Johnson became CEO (thought he was a genius because he used to sell Apple stuff).
When was the last time Cramer picked a stock correctly? You could probably do pretty well just betting against him.
Hey, that was Carley Fiorina's big plan for Hewlett-Packard! Worked out just as one might have expected for them too.
Same here. Their clothes are good quality at good prices.
I have decided to shop elsewhere.
For the life of me I can't understand these stores catering to such a small minority, esp when they must know it's a slap in the face on the vast majority.
If they want to trade traditional folks for the gay/lesbian crowd, good luck!
Thanks Bill Buckner.
In any event, I can imagine investing in brick and mortar retail like JCP. Walmart might still do pretty well but most of the others stink.
Limo-liberal elitists don’t care if their customers are insulted by their slimey top down cultural and political directives or not. Reminds me of the newspaper business. Cover over here so we can stick our stinky fingers in your eyes!
Maybe shoppers are sick of the homosexual agenda being forced on them.
What you said! They are aiming for a younger market...which lets me out. They’ve dropped the catalog sales, and I used to spend a bundle on their furniture, linens, and home items each quarter when their special catalog came out quarterly for those spending in excess of $300 in the prior quarter...not a nickel since the changes were in force. Went there just this last weekend to their home store and not only didn’t find a thing I wanted, and, of course nothing on sale, but there were only two other customers in the store. What a shame...they will be the next to close.
The conservatives have spoken.
Lesbian moms in the JC Penney catalog are not acceptable.
Now we wait to see if the JCP Board of Directors is listening and fires the Chairman
Here is my message to JCP:
“Sadly, I will no longer be shopping at your stores since it is clear that JCP is more interested in catering to homosexuals than portraying traditional family values. Look forward to shopping your going out of business sales unless there is a change in attitude at the top of JCP.”
Here is the JCP contact link:
Johnson could get away with some of these stunts at Apple because of the product. We’d have to sick it up if we wanted a Mac or whatever.
There’s no shortage of stores selling stuff similar to JCP’s tho, so we don’t have to just deal with it. Johnson’s really screwed up.
“Screw these sodomy-pushers. Ill never shop there again.”
Dung punching is no longer a closeted pastime...bye bye Penney’s...
Yeah, as a 30 year veteran I totally agree. Sell Test & Measurement. Let Compaq take you over with your money. Ditch your RISC customer base. Someone once said HD is a clothing and accessory company with a motorcycle sideline. HP is an inkjet company with a computer sideline. They were at $47 when they made me an offer I couldn’t refuse. They let the wrong guy go. LOL.
They hired me to run the Big Kahuna! H-P! Got me out from under the problems at Lucent just in time too... ugh, that's not going to be pretty.
So! What do I do next? H-P... let's see. Wall Street Journal says they make electronics. Oscilloscopes, voltmeters, all kind of geek nonsense. Some dweeb tried to explain to me what a "spectrum analyzer" was for but good... grief! The guy actually had a pocket protector! And a "rubidium frequency standard"... WTF? Who gives a crap?
Look. Personal Computers. Printers. These are things I understand. These are things I use. OK, yeah, it's a "mature market." So what? Hewlett Packard's a "mature company," right? Wall Street's jumping back-flips over me. They'll float me a few bil... I'll just buy the biggest name in the P-C world! Well, OK, the second-biggest name. Third? Fourth, whatever. I'll buy 'em, and we'll crank 'em out like nobody's business.
Lot easier for me to sell those than to sell that science-lab BS.