Skip to comments.JCPenney takes emergency measures to protect bottom line
Posted on 05/06/2016 7:20:44 AM PDT by DCBryan1
JCPenney, faced with unexpected light sales in mid-April, slashed payroll, froze overtime and took other drastic cost-cutting steps in an attempt to protect its bottom line, The Post has learned.
As the end of its first fiscal quarter approached, the mid-priced department store told store managers to take the emergency measures because the chain faced an expense challenge, according to an internal memo obtained by The Post.
We have an expense challenge for the month of April and are asking all stores to do their fair share by closely monitoring all expenses, the memo said.
Employees were stunned when their hours were slashed on such short notice, one source said. The cut in employee hours saved Penney around 800 hours over two weeks or approximately $8,000 per store.
(Excerpt) Read more at nypost.com ...
Self inflicted. Target is next.
This goes back to that dope CEO who thought”We don’t need coupons” Yeah right dummy now your compnay is dying and good people will lose their job because of your arrogant stupidity.
I guess the diamond encrusted platinum plated felching straws were not selling so well afterall
“JCPenney, faced with unexpected light sales in mid-April, ...”
Unexpected by whom?
We use JC Penney for two things: (1) it has a hair salon that sells mrs riverdawg’s favorite shampoo at a good price; (2) a shortcut from that end of the mall (on the rare occasion we are there) to the most convenient parking area.
Unexpected. The press uses that word a lot.
They should hire Bruce Jenner as their “spokeswoman”!
The Penney near us (Dewitt, NY) just closed. I’m sure Sears is next.
You mean Ellen was the beginning of the end for JCP?
Who’da thunk it?
30 years ago I shopped Penney’s all the time...mostly for men’s clothing...but since they brought on a more liberal LGBT theme and hired Ellen a couple years back...guess that did not go over well...I sure got the message. I have not purchased a dimes worth of stuff there since.
Same with Target...you can go to the bathroom with people the same sex as you at lots of stores I won’t let my money darken your evil entry points.
Screw you liberals!
Oh and JCPenney - IF I was shopping at a store that insisted all customers read a verse from the Bible before they check out, I wouldn't act surprised or be offended when liberals decided NOT to shop there.
My suggestion is YOU people at JCPenney should announce you're staying out of politics from this point forward and get on with being a store - not a soap box.
Ron Johnson was definitely not an operations guy. You know he took the company backwards when they re-hire the former CEO to undo this mess. I feel bad for the people that have endured all this. One used to be here on FR.
My step son worked there for a short time. One day, I had to go see him there to hand him a car key...it happened to be a day or two before father’s day.
As soon as I entered the store, the sales people approached me. I said no thanks, just dropping something off...but it was like a bad late night skit. I couldn’t move 10 feet without being approached again. I was trying to move fast and not make eye contact...but the salesmen kept coming...and they wouldn’t take no for an answer. I think, by the time I finally found him, every salesperson in the store had talked to me.
So I asked him about it. He said they were required to get 3 ‘no’ answers from a customer. So when I said ‘no thanks’, they were required to re-phrase the offer of help at least 2 more times before going away. And, being next to Father’s day, they had anticipated a large crowd (but they didn’t) and had a huge staff that day. It was a tragic comedy.
As I was in the store, the manager walked by, with a big cardboard sign. He was replacing the 10% off storewide sign with a 20% off storewide sign - and as Dave Ramsey would say, he smelled desperate.
After that experience, I had a notion their days were numbered.
Go away, GayCPansey. Your homo-grovelling isn’t wanted around here.
. . . and of course, that “brilliant” marketing decision to focus on gays, and not the other 97% of the population.
When I was a kid, Penney’s was a step up from Sears, but it’s where families shopped.
It got less and less so, eventually it was all clothing or home decor, outside of the catalogs.
I don’t think I’ve shopped at a JCPenney in this century. . .
That most likely played into it, but people downplay the egregious slap in the face to most Americans with the awful homo-promotion in their ads. I personally know many people who swore off Penney's permanently after that affront to traditional American values.
On your point, I did work at JCPenney part-time right after college, and the coupon promotions were enormously popular among customers. We had the candy wrapper campaigns where the various percent off coupons were hidden in the chocolate bars, Willy Wonka-style. Who wouldn't like that?
So.....you tell your $8.00 per hour cashier, who is only getting 28 hours anyway, to go home when she shows up for her shift on Tuesday because home office scrooooood the pooch on expenses.
And we wonder why Bernie Sanders has a growing fanbase.
Only second to "bigot."
They’ve been burning through cash (at least up until recently).
Johnson really screwed this retailer up. Thinking they’re going to seek Bankruptcy protection before long.
JC Penny was my go-to clothing store for the longest time.
Then they had their HQ go weird and their line changed.
I noticed recently they had the old line of shirts back that I always bought. If they’re slashing prices, then I might check them out.
I was in Penney’s a few weeks ago to buy sneakers. I couldn’t find a soul to help me; and there seemed to be only one manned checkout location per floor, with long lines at each of them.
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