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Cramer says departure of Penney's CEO means company is doomed
MSN ^ | 22MAy | Berkeley Lovelace Jr.

Posted on 05/22/2018 11:14:15 AM PDT by tcrlaf

Marvin Ellison's exit as CEO of J.C. Penney means the struggling department store chain can't be turned around, CNBC's Jim Cramer said Tuesday.

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J.C. Penney shares plunged Tuesday after Lowe's announced it is naming Ellison president and CEO, effective July 2. J.C. Penney, which has struggled to compete within the quickly changing retail landscape, told CNBC that it was informed by Ellison a couple days ago of the move.

"If there was any chance [of a turnaround], I think you would stay," Cramer said on "Squawk on the Street." "Because it would obviously be such a kick in the face of J.C. Penney to move over."

Cramer, who also said Ellison's move is "fabulous" for Lowe's, added he would not say that Marvin Ellison "failed" the department store chain because "who would not fail there."

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


TOPICS: Business/Economy; News/Current Events; Politics/Elections
KEYWORDS: ceo; ellendegeneres; jcp; penney; retail
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This is more than a shift in the retail culture...

I was done spending with GayC Penney when the CEO decided to kick the customers to the curb and go queer. So were millions of others, I am sure.

My family, including my formerly teen daughter, have not spent one thin dime in there since.

1 posted on 05/22/2018 11:14:16 AM PDT by tcrlaf
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To: tcrlaf

2 posted on 05/22/2018 11:17:16 AM PDT by dfwgator (Endut! Hoch Hech!)
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To: tcrlaf

this was the idiot CEO who went full fag with those catalogs, right?


3 posted on 05/22/2018 11:18:18 AM PDT by max americana (Fired libtard employees 9 consecutive times at every election since 08'. I hope all liberals die.)
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To: tcrlaf

It’s a shame. That guy was kicked out and the “all gay” and “gay approved” themes were taken down. Sales were reinstituted too. It’s back to what it was, lost customers notwithstanding. My wife loves that place. But it’s sort of a ghost town usually. Anyway the main alternative is Amazon and that’s certainly not better politically.


4 posted on 05/22/2018 11:18:32 AM PDT by pepsi_junkie (Russians couldnt have done a better job destroying sacred American institutions than Democrats have)
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To: tcrlaf

I quit Penney’s years ago. Their gay thing didn’t bring me back. They won’t be missed.

Mongomery Ward is gone. Sears is heading to the door. In five years it’ll all be Amazon, Amazon, Amazon.


5 posted on 05/22/2018 11:19:46 AM PDT by bgill (CDC site, "We don't know how people are infected with Ebola.")
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To: max americana
Cramer, who also said Ellison's move is "fabulous" for Lowe's
6 posted on 05/22/2018 11:20:07 AM PDT by Ezekiel (All who mourn(ed!) the destruction of America merit the celebration of her rebirth.)
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To: tcrlaf

I’ve been hearing about that policy change going back about 10 years. They must have never revised it.
The fact that JC Penny’s is swirling down the sink is unfortunately old news. It didn’t have to be that way.


7 posted on 05/22/2018 11:20:27 AM PDT by lee martell
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To: bgill
In five years it’ll all be Amazon, Amazon, Amazon.

Or Wal-Mart, Wal-Mart, Wal-Mart.

8 posted on 05/22/2018 11:21:11 AM PDT by dfwgator (Endut! Hoch Hech!)
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To: bgill

I will do without!


9 posted on 05/22/2018 11:24:42 AM PDT by TribalPrincess2U (0bama's agenda�Divide and conquer seems to be working.?)
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To: dfwgator

True, but they’ll do something more to screw themselves up. I remember the good o’ days at K-Mart...about 1965...seemed you could get anything you were looking for. Not around here anymore.


10 posted on 05/22/2018 11:27:16 AM PDT by TribalPrincess2U (0bama's agenda�Divide and conquer seems to be working.?)
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To: pepsi_junkie

Well I don’t understand what’s going on. My spouse has returned to shopping at Penney’s, but I don’t know how people, or analysts, can say that online is killing retail. Some retail? Maybe, but unless you can always and consistently buy stuff off the rack, I can’t imagine how people buy assorted clothes online at, say, Amazon.

My personal sense is that Penny’s, like Sears and others, got great deals when malls were booming and at that time signed long-term lease agreements that are now killing them.

Huge stores in high rent and now low volume malls would kill anybody. If they weren’t tied to these leases you would think that these types of retailers would move out of malls and create smaller, boutique stores in anyone of the millions of lower cost strip malls.

Sears, K-Mart, Boston Store, Penney’s, Macy’s, all these formerly big mall-centric retailers are going the way of newspapers.


11 posted on 05/22/2018 11:28:15 AM PDT by Obadiah
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To: TribalPrincess2U

We have bought stuff on line and absolutely nothing was worth it. I miss the take it back to the store days. Plus what you get is PURE CRAP! And your screwed because they don’t pay for return shipping. Not worth all the hassle.


12 posted on 05/22/2018 11:29:22 AM PDT by TribalPrincess2U (0bama's agenda�Divide and conquer seems to be working.?)
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To: tcrlaf

Cramer’s a carnival sideshow.


13 posted on 05/22/2018 11:30:18 AM PDT by Ted Grant
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To: TribalPrincess2U

What about TG&Y? I bought a Dan Wesson .357 on installments at one in Waveland MS in 1980. LOL!


14 posted on 05/22/2018 11:30:38 AM PDT by rktman (Enlisted in the Navy in '67 to protect folks rights to strip my rights. WTH?)
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To: tcrlaf

Haven’t bought anything from them for years.


15 posted on 05/22/2018 11:31:45 AM PDT by bmwcyle (People who do not study history are destine to believe really ignorant statements.)
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To: max americana
this was the idiot CEO who went full fag with those catalogs, right

No. This was the guy who replaced him, who tried and failed to fix the damage.


16 posted on 05/22/2018 11:32:07 AM PDT by Buckeye McFrog
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To: dfwgator; bgill

or eBay, eBay, eBay

frankly those are my main go to’s.... I give a crap about what they say for me it’s selection, price, and quality and I pick and choose appropriately.


17 posted on 05/22/2018 11:38:11 AM PDT by reed13k
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To: tcrlaf

[[I was done spending with GayC Penney when the CEO decided to kick the customers to the curb and go queer.]]

So were aq lot of people=- Back then, the peopel actually got involved and boycotted companies like pennys that did crap like that- today we don’t organize in large enough numbers to affect the profits of large companies unfortunately


18 posted on 05/22/2018 11:38:30 AM PDT by Bob434
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To: Obadiah

I buy my husband’s dress clothes through JC Penney online and I’ll miss them when they’re gone. Their shirts are the best.


19 posted on 05/22/2018 11:40:09 AM PDT by MeganC (There is nothing feminine about feminism.)
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To: Buckeye McFrog

What a shame. Stock went from over $10/share in January 2017 to $2.36/share today. In 2017 they had ~98,000 employees. That’s a lot of people losing their jobs if the company goes belly up. In addition to the political fallout that hurt them, Dept. stores in general just don’t seem like a viable concept anymore.


20 posted on 05/22/2018 11:40:42 AM PDT by neverevergiveup
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