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Penney’s Johnson seen slashing jobs (JC Penney's meltdown continues...)
NY Post ^ | 2/6/13 | JAMES COVERT

Posted on 02/06/2013 5:32:39 AM PST by jimbo123

JCPenney CEO Ron Johnson is getting ready to break more hearts at headquarters — a few hundred more.

In what some Penney insiders are calling the “St. Valentine’s Day Massacre,” the former Apple exec plans this month to fire at least 10 percent of the remaining 3,000 employees at the retailer’s home offices in Plano, Texas, sources told The Post.

While the bloodbath was originally targeted for last month, sources said Johnson opted to delay it until after the flailing company’s fiscal year ended last week.

“They wanted to throw the severance costs into this year because last year was already so bad,” according to one former exec. He noted that fourth-quarter sales — scheduled to be released on Feb. 27 — are estimated to have dropped upward of 30 percent amid heavy holiday markdowns.

“The real reason is that they’re running low on cash,”

(Excerpt) Read more at nypost.com ...


TOPICS: Business/Economy; News/Current Events
KEYWORDS: bhoeconomy; homosexualagenda; jcpenney; layoffs; retail

1 posted on 02/06/2013 5:32:46 AM PST by jimbo123
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To: jimbo123

Bye bye


2 posted on 02/06/2013 5:36:54 AM PST by bmwcyle (People who do not study history are destine to believe really ignorant statements.)
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To: jimbo123

Saw a JCP ad last night. Not a fag in sight. Too late I’m afraid.


3 posted on 02/06/2013 5:38:57 AM PST by albie
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To: jimbo123

So, was it their pro-gay stance, or the fact that they horrifically screwed up their entire sales model? Or Both?


4 posted on 02/06/2013 5:38:57 AM PST by wbill
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To: jimbo123

Johnson gets a lot of flak these days - much of it deserved - but most retailers are dealing with the End of the Consumer Era with equal ineptness. Too many products chasing too few dollars, and the shakeout is just beginning. Many blame online sales, and while Amazon has hurt traditional retailers a great deal in the short run they are also staring straight ahead at the same giant contraction bearing down on them.


5 posted on 02/06/2013 5:41:05 AM PST by Mr. Jeeves (CTRL-GALT-DELETE)
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To: jimbo123

Going the way of the Penney.........


6 posted on 02/06/2013 5:41:52 AM PST by Average Al
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To: wbill

JC Penney has an excellent sales model. And my past experience with them is that their people are top-notch.

The gay thing screwed them.

Seeing posters of two lovey-dovey daddies last Fathers’ Day sent sensible people out of Penny’s and over to Kohls and Macy’s.

Kohl’s and Macy’s may have the same political compass, but they aren’t putting it in their advertising where everyone can see it.


7 posted on 02/06/2013 5:45:08 AM PST by Westbrook (Children do not divide your love, they multiply it.)
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To: bmwcyle

Maybe they should bring in a good retail turnaround specialist like Mike Ullman? Oh wait...


8 posted on 02/06/2013 5:47:14 AM PST by InABunkerUnderSF (Because 2 terms with Jerry Brown as Governor was all I could take.)
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To: jimbo123

When your marketing plan targets 3% (or less) of the population, success is unlikely.


9 posted on 02/06/2013 5:51:21 AM PST by Arm_Bears (Ted Kennedy's Oldsmobile has killed more people than my guns.)
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To: jimbo123

>“The real reason is that they’re running low on cash,”

Perhaps the tiny percent of the “two daddy” families can save them or maybe a new focus on closet furnishings?


10 posted on 02/06/2013 5:54:20 AM PST by soycd
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To: Westbrook

What I find interesting, is that we didn’t see this so-called “gay friendly” ads in Missouri. As a marketing teacher, it is my opinion that what really took them down was the complete removal of those pesky coupons that drew customers into the stores. Even thought the EDLP model may have netted better prices.


11 posted on 02/06/2013 5:56:02 AM PST by Cyclone59 (Obama is like Ron Burgundy - he will read ANYTHING that is on the teleprompter)
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To: jimbo123

In the retail biz no one is more vulnerable to layoffs than a home office employee.

Out in the stores at a minimum you need someone to show up with a key and open the doors every day. By contrast lots of administrative types are expendable.


12 posted on 02/06/2013 6:08:36 AM PST by Buckeye McFrog
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To: jimbo123

The collapse of the Boy Scouts will be much much quicker if they go wrong.

Buh-bye JC Penney


13 posted on 02/06/2013 6:13:58 AM PST by GeronL (http://asspos.blogspot.com)
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To: Mr. Jeeves
I think your post is very close to what's going on. I vividly remember the revolution back in the 90’s. Technology was exploding. New, faster computers, new gadgets called iPods, cell phones were just getting started, video game consoles were taking off, and on and on.

Think about it. In the last decade there has been an absolute dearth of development, just teeny incremental changes. No real explosive idea.

It seems like since 9/11 we've focused on war and the economy and society has either just maintained or declined.

Enter Obama.

Since 2008 Obama has gone out of his way to diminish America, both domestically and abroad. He has been fantastically successful.

We now have trillions in added debt with record amounts of people subsisting on government payouts. Real employment is about 12% with millions out of the workforce and on the government dole. Inflation, while yet tame, is real. Gas prices have now risen nearly $0.50 per gallon in the last two weeks alone. Taxes were just increased on all Americans in January. Wages are declining. Middle class Americans are struggling mightily to make ends meet.

Amidst this background there ARE going to be shake outs as you mention. There is nothing new being created at the retail level. Middle class consumers are shrinking and those left are strapped. Those on the government dole make their monthly trek to WalMart for staples.

What I find amazing is that it's just JC Penney that is struggling. I think the dam will break in the not so distant future and we will see a lot of businesses, unfortunately, going bust.

14 posted on 02/06/2013 6:14:38 AM PST by Obadiah (We must commit to remove every Senate Blue-dog Democrat from office in 2014!)
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To: jimbo123

Another victim of Homo-Worship.


15 posted on 02/06/2013 6:19:33 AM PST by Iron Munro (I Miss America, don't you?)
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To: Cyclone59
As a marketing teacher, it is my opinion that what really took them down was the complete removal of those pesky coupons that drew customers into the stores. Even thought the EDLP model may have netted better prices.
American consumers have been so conditioned by coupons & sales, they literally are unable to think for themselves. (Rush would call them "low information consumers.")
They couldn't figure out that the new JCP everyday low price was a true bargain - everyday - not just on a weekend ... and also didn't require cutting out a piece of paper from an ad.
I blame the consumer, but JCP really should have had a much stronger campaign (sans the homos) explaining the new sales plan.
16 posted on 02/06/2013 6:22:18 AM PST by oh8eleven (RVN '67-'68)
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To: jimbo123

I went to Penney’s recently to shop for towels and bath accessories. I was dismayed at the lack of choice. There were several types of towels but all in the same color scheme which was limited compared to past selections. Went to Dillards and Kohl’s and it was a color wheel compared to Penney’s. The clothing displays look more appealing but the whole store has an empty feeling that makes it look like they are going out. I hope not. It is such a change and I don’t think their gay friendly ads reached their demographic in a positive way. They do seem to be floundering.


17 posted on 02/06/2013 6:24:07 AM PST by outinyellowdogcountry
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To: Obadiah; Mr. Jeeves
Ditto to both of your posts. As the middle class gets squeezed, the stores that cater to them (JCP, Sears, pretty much any mall, etc) will go smash. Maybe a few will be left after the shakeout, that's all.

Speaking for myself, I'm (currently) entrenched solidly in the middle class. If you had told me 20 years ago what my salary would be today, I'd have replied, "Well, probably. I have a college degree, I'm a hard worker, etc etc etc".

However, if you had told me 20 years ago what my salary would be today AND that I'd be clipping coupons, skipping vacations and cutting every corner that I can find just to stay afloat..... I'd have said that you were crazy.

18 posted on 02/06/2013 6:24:18 AM PST by wbill
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To: oh8eleven

You are correct about the need for a stronger campaign to explain the new sales plan. What I remember was advertising that alluded to the change but didn’t hit home the advantage. Plus that coupon in the mail was like an invitation to come in and it kept Penney’s on our mind. I see their prices are very good and they have good working woman clothes.


19 posted on 02/06/2013 6:27:50 AM PST by outinyellowdogcountry
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To: wbill

Oh gosh. Nailed it.


20 posted on 02/06/2013 6:36:13 AM PST by Obadiah (We must commit to remove every Senate Blue-dog Democrat from office in 2014!)
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To: oh8eleven
JCP everyday low price was a true bargain

It's been awhile since I have been in in there. I used to go all the time.

However, I DID shop a couple of times immediately after all these changes started rolling out. I found the prices to be higher, and substantially in some cases. (I like their St. Johns Bay shirts, and prices for them literally doubled.)

I've not been back in a year or more, though. Prices may have changed.

21 posted on 02/06/2013 6:37:15 AM PST by wbill
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To: outinyellowdogcountry
I see their prices are very good ...
Shortly after they announced the new pricing policy, I stopped into my local JCP and found the prices so low I thought I was being scammed - "Must have brought in really cheap krap from China."
When I realized the merchandise was the same it had always been, I thought American consumers would flood JCP across the country. Unfortunately for JCP ... not so much.
22 posted on 02/06/2013 6:40:04 AM PST by oh8eleven (RVN '67-'68)
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To: jimbo123
“They wanted to throw the severance costs into this year because last year was already so bad,” according to one former exec.

This statement makes no sense. Most corporations - when they have a bad year - throw in all the expenses they can find of a non-recurring nature - to set the stage for a comeback and profitable year following.
23 posted on 02/06/2013 6:45:11 AM PST by Cheerio (Barry Hussein Soetoro-0bama=The Complete Destruction of American Capitalism)
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To: jimbo123

I have historically obtained my underwear and Oxford shirts at Penneys. My purchases were based not on price but on the quality they used to have. Sadly, a recent purchase of a shirt revealed unraveling at the cuffs. The quality of the underwear has gone downhill for some time now.


24 posted on 02/06/2013 6:48:19 AM PST by chopperman
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To: wbill
I DID shop a couple of times immediately after all these changes started rolling out. I found the prices to be higher
Can't argue with what you say you saw, but it doesn't make much sense to announce new lower prices ... then raise them.
Perhaps the example you gave (St. Johns Bay shirts) had been used as a loss leader.
25 posted on 02/06/2013 6:49:25 AM PST by oh8eleven (RVN '67-'68)
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To: outinyellowdogcountry

Towels & bath accessories = Bed, Bath & Beyond because it’s easier to get into and out of (hate malls) while having a better selection. Kohl’s also fits that description.


26 posted on 02/06/2013 6:50:06 AM PST by T-Bird45 (It feels like the seventies, and it shouldn't.)
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To: jimbo123

Meh, just threw away not one but two fancy, schmancy mailers from JCP....
Not interested anymore.


27 posted on 02/06/2013 6:52:26 AM PST by matginzac
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To: Cheerio

I agree. Why insure 2 bad years in a row?

Doesn’t make sense.


28 posted on 02/06/2013 6:53:45 AM PST by super7man
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To: soycd

Yep, ...
Need to have Degenerate and her “wife” on speed dial....


29 posted on 02/06/2013 6:55:08 AM PST by matginzac
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To: Mr. Jeeves

Yes....I agree with most you posted. These “old time” large retailers are all going to go away. If you think about it, this began with that old company Montgomery Ward in the early 70’s.

Like the buggy whip, I guess.

I wonder when Kohl’s will fall apart. I’ve never understood that store.


30 posted on 02/06/2013 7:15:11 AM PST by Pigsley (nan)
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To: Mr. Jeeves
It's more a case of putting way too much stock in the concept of one individual, Ron Johnson.

While you're correct that retail is already a tough market, this guy has basically destroyed the customer base this company has acquired over the years. The elimination of the coupon, the ads and (keeping in mind that a number of JCPenney stores are part of the community) the past treatment and firings of some long time employees have been the main causes.

This entire hiring (of Johnson) was dumb from the start. They took a guy who was successful in expanding new stores (Target) and opening new retail stores (Apple). They allowed him complete control to implement changes which were never proven successful. No where on his resume does he have any experience in improving an existing retailer with 1100 stores.

I'm not one to complain about anyone’s compensation, but I find it ironic that for a company that is now cash strapped, Johnson received over $53 Million in compensation in 2011.....I can't find what his numbers were for last year.

31 posted on 02/06/2013 7:16:45 AM PST by Rational Thought
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To: outinyellowdogcountry

Kohl’s store up the road appears to be busier than ever.
Getting hard to find help in there however. The people working there all fret that their hours have been cut as the company tries to avoid Obamacare.

Herb Kohl was a Democrat, and I’m fairly certain he voted Yea on the Affordable Care Act.

Irony: The Mark of Quality Literature.


32 posted on 02/06/2013 7:37:37 AM PST by Buckeye McFrog
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To: Pigsley

I wonder when Kohl’s will fall apart. I’ve never understood that store.”

The only reason I shop at Kohl’s - about once a month I get a coupon in the mail for $10 off any purchase. They have some okay tee shirts that are $8.00 or shorts for $10-$12 each so I use that to build up my stock at little cost to me. They must generate enough income from people who spend more than that because they keep doing it. Our local one is a rather strange store though.


33 posted on 02/06/2013 7:38:04 AM PST by Grams A (The Sun will rise in the East in the morning and God is still on his throne.)
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To: wbill

ah........Gay Cee Penney’s.


34 posted on 02/06/2013 7:45:26 AM PST by PhiloBedo (You gotta roll with the punches and get with what's real.)
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To: bmwcyle

The last 2 times I was at Penney’s (within the lat three weeks) there were so few customers that they really didn’t need the employees that were standing around. Yet when I needed some help finding the articles I wanted, I had to go and pester a clerk to get help. But what I wanted (white boxer undershorts) they were out of. What was left on the shelf was shopworn, and they didn’t know when or if more would be coming in. I’d been buying these for years. Foo -—


35 posted on 02/06/2013 7:58:32 AM PST by imardmd1
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To: oh8eleven
had been used as a loss leader.

That's a possibility, they're a store brand. Per the posted article, they're "gradually going away"...too bad, I may need to find a new favorite shirt. :-)

The Socks, underwear and slacks that I usually bought there were name brands, though. And the prices on them had gone up - gone up radically, without the usual JCP coupons - as well.

Maybe it was symptomatic of my local store. Doesn't matter, Target and Kohls have been glad to get my business.

36 posted on 02/06/2013 8:07:08 AM PST by wbill
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To: Westbrook

I disagree. I think their “new” sales model of “everyday low prices/no sales” combined with their gay family agenda to create the downward spiral. The last time I shopped there, which was probably going on 2 years ago, I was looking for clearance racks. There were none, nothing really marked down, just “everyday prices”. I don’t shop very much at all, and when I do, unless going for one specific item, I am going to look at the clearance stuff first.


37 posted on 02/06/2013 8:13:27 AM PST by NEMDF
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To: Westbrook
7 Kohl’s and Macy’s may have the same political compass, but they aren’t putting it in their advertising where everyone can see it.

Macy's Goes On the Down Low, Hooks Up With Obama Gay Group for 'Election Year' Campaign
Posted on Sunday, June 03, 2012 12:01:59 AM by kristinn

While conservative activists have focused on the promotion of gay marriage by store chains J.C. Penny and Target, Macy's has gone under the culture radar in its partnership with the Obama-allied homosexual group, the Human Rights Campaign.

38 posted on 02/06/2013 9:10:46 AM PST by MacNaughton
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To: Pigsley
These “old time” large retailers are all going to go away. If you think about it, this began with that old company Montgomery Ward in the early 70’s. Like the buggy whip, I guess.

The old large retailers had costumers that had well paying jobs. Those jobs didn't disappear. They were shipped to Red China. Do you think retailers in China are hurting?

39 posted on 02/06/2013 9:26:38 AM PST by Count of Monte Fisto
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To: wbill
However, if you had told me 20 years ago what my salary would be today AND that I'd be clipping coupons, skipping vacations and cutting every corner that I can find just to stay afloat..... I'd have said that you were crazy.

That pretty much sums up the current middle-class in America. I am pretty well ensconced in the middle-class as well, I am having to experience the same cost-cutting measures, etc... In America, the middle-class shouldn't HAVE TO KNOW which restaurants offer free or low-price meals for children after 4PM, etc... This is a STAPLE in America today and that is a sad state of affairs.

This reminds me of most of the lower-middle-class/upper-poor-class Americans in the late 1970's! I remember my family sitting around the TV putting together power-strips and other gadgets which were shipped to us as parts and returned as a completed product for PENNYS! This money was not an "option" it was needed just to keep the lights and gas on! Obama and the liberals consider this to be PROGRESS? They think THIS is a successful economic recovery? Jimmy Carter's economic prowess on full display!
40 posted on 02/06/2013 9:26:50 AM PST by ExTxMarine (PRAYER: It's the only HOPE for real CHANGE in America!)
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To: T-Bird45

Indoor malls are dying, period. They’ve pretty much become hang out places for gangs....haven’t been to one in years.


41 posted on 02/06/2013 9:29:05 AM PST by dfwgator
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To: imardmd1

We have shopped at JCP for years. Always bought Florsheim shoes, Haggar shirts and slacks, JCP mens undershirts and boxers for Hubby. I liked their women’s hosiery and they use to have a nice selection of women’s career clothing. Florsheim shoes still there and limited selection of Haggar. Women’s hosiery discontinued (that was my main reason to shop there)and women’s clothing selection is not appealing to me. Their slick advertising brochure campaigns must be costing them a fortune. Makes them look like a Target or GAP wannabe. I don’t care much more for Kohl’s or Macy’s either, but am finding better selection at these stores.


42 posted on 02/06/2013 9:41:12 AM PST by antceecee (Bless us Father.. have mercy on us and protect us from evil.)
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To: NEMDF
I honestly don't think the gay agenda has anything to do with their downward spiral. We don't pay a lot of attention to consumer boycotts and pretty much go where price and convenience direct. And so, with one exception we haven't been to JCP (or most mall stores) in many, many years, although I suspect we are JCP's target demographic.

In recent years when we've wanted something new we just pick it up with the groceries. BJ's, Costco, Target, and Walmart pretty much keep us clothed. Every couple of years, my wife will get something really "upscale", but even that is most likely done online.

Here's the one exception where my wife was actually in JCP. Two weeks before Christmas this year and was going to pick up two dressy sweaters for my grandsons for a wake they were to attend that evening: She was in the area of the mall and thought she would run into JCP and pick up some reasonably priced little boy sweaters. She went to the boys' department and couldn't find them so she asked the sales associate. The lady looked stricken and told her they hadn't gotten *ANY* sweaters in for little boys (ages 5 and 7). What??? No wonder they're going out of business. She ended up going to Target on her way home.

43 posted on 02/06/2013 9:51:02 AM PST by old and tired
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To: jimbo123

He needs to fire himself if he was in charge last year. Horrible management decisions from A to Z.


44 posted on 02/06/2013 10:15:40 AM PST by freeangel ( (free speech is only good until someone else doesn't like it)
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To: InABunkerUnderSF
Maybe they should bring in a good retail turnaround specialist like Mike Ullman?

It sounds like they already got ahold of Albert "Chainsaw Al" Dunlap.

45 posted on 02/06/2013 10:21:14 AM PST by Lancey Howard
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To: soycd

why, the homosexuals got the capitulation they wanted AND they can blame pro-family groups for victimizing a capitulating retailer.

The have the debate and the victory.


46 posted on 02/06/2013 10:24:03 AM PST by longtermmemmory (VOTE! http://www.senate.gov and http://www.house.gov)
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To: antceecee
As a country boy, raised in small villages, our two or three treks to the great city department stores (pre-Christmas, pre-Easter, and just before going back to school in the fall) were exciting special trips to get new outfits.

Later on, I always tried to save up money so my children could have the same experiences, where they could select their own clothes. Just not the same, now --

47 posted on 02/06/2013 1:25:01 PM PST by imardmd1
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To: wbill

Here is an interesting take:
my mom (age 74) has been a loyal Penney’s shopper for the last 20 years. She has really enjoyed getting their coupons in the mail (and now the internet), receiving candy bars w/coupons, all their “sales”, clearances, etc. For her it was quite an adventure. She would spend hours in there digging around. In the last few years she had been able to save up gift certificates ($5, $10, etc) they gave out as rewards and redeem them for a single big purchase. She did this for a sofa. All in all she was indeed getting a very good value for the money she spent on purchases - plus the entertainment value.

But she took no notice of the gay thing, even after all us men in her family told her repeatedly about it. The adventure of couponing and apparent big savings trumped the culture. But when they discontinued the sales/coupons about the same time then she noticed. And started going to a regional department store called Belks. She still goes to Penney’s but its not the same. I was there with her this week and the store had very little merchandise on the floor, the walls had been painted bright colors and it was airy and open - and spooky. Not at all like a Penney’s. And there were no customers. For our family Penney’s had been the place my mother would go for home furnishings, draperies, linens, bath room items, and clothing - pretty much everything. But not anymore.

In the end, she has lost her fascination with Penney’s. If they do bring the sales and coupons back perhaps that will change. But in the end, for her at least, the gay thing was not an issue. Interestingly enough, it was for all the men in the family. So maybe it is true that women, in general, are more liberal than men. Or perhaps it is some natural inclination of men to be protectors of the family.


48 posted on 02/07/2013 7:18:16 AM PST by Deathtomarxists
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To: Deathtomarxists
Here is an interesting take

Yep, it is interesting. For me, it was likely more the money, than the gay thing. But both of them factored into my decision - as in, "Man, I don't approve of their sales tactics, so I don't want to shop there. And the pricing stinks now, too, so why bother?"

I figure that JCP couldn't continue to sell stuff at a loss....for instance a couple of years ago, I replaced all of the pillows in our house with high end ones (Sealy? They weren't the cheapies, at any rate) from JCP.

After the sale, coupons, discounts AND a doorbuster special, I think it worked out to $3-4 a pillow - about 10c on the dollar. Sez me, they can't be making money at that rate. So, they likely needed to rein things in a little.

However, there's an enormous difference between, "Let's make sure that we're not undercharging", and "Let's turn things upside down completely." Will they survive? I doubt it...but then there's always plenty of turnover in retail (see Circuit City, Linens and Things, Ames', Zayre's, Woolworth's, etc etc etc). The disappearing middle class will just hasten the shakeout.

49 posted on 02/07/2013 7:31:50 AM PST by wbill
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To: Grams A

Dang...you are smarter than me. I got a few of those cards in the mail and just gave them to a friend who used them. Makes sense to buy decent stuff with a $10 discount.


50 posted on 02/09/2013 5:12:37 PM PST by Pigsley (nan)
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