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JC Penney's stock tumbled 8% Friday in premarket trading, after the department store posted a $203 million loss for the third quarter.
The retailer continues to struggle amid a massive overhaul effort. JC Penney's (JCP) loss amounted to 93 cents a share for the quarter, more than thirteen times worse than what analysts were expecting. And sales at stores open at least a year declined more than 26% , the most since CEO Ron Johnson took the helm a year ago.
The company's total sales of $2.9 billion were also well below consensus expectations.
Or it could be that no one shops at JCP due to their decrepit and crumbling store interiors and their crappy quality, unstylish tacky clothes. But nice to see that they found a scapegoat.
I'm not blaming Ellen. I think it was a mistake to make her their spokesperson, but that certainly wouldn't stop me from shopping there. I like Penny's. Decent prices, decent product.
Or it could be that no one shops at JCP due to their decrepit and crumbling store interiors and their crappy quality, unstylish tacky clothes. But nice to see that they found a scapegoat.
Everyone is free to analyze the situation and draw their conclusions
I used to shop there. It wasn't Ellen. It was their products..frumpy old lady clothes that drove me away.
Now their men's dept is good..very nice dress shirts and casual clothes. But that's about it.
I'm guessing it's their quality that went to s***, and not who their spokesperson is. I used to shop there a lot, but these days, I'd rather go to Kohls.
I'm guessing it's their quality that went to s***, and not who their spokesperson is. I used to shop there a lot, but these days, I'd rather go to Kohls.
That's where I go now too. Good quality and still decent prices with a good all around selection of styles.
And I like that they refuse to go into the malls..saves money on mall overhead.
Didn't a lot of people say that the whole move that JCP made to "eliminate" coupons and deals and special time periods where you could get better prices and instead just institute low prices all the time, didn't that backfire on them Enormously and cost them huge amounts of sales?
I seem to remember there being a lot of talk saying that that move alone hurt them huge amounts
That's where I go now too. Good quality and still decent prices with a good all around selection of styles.
And I like that they refuse to go into the malls..saves money on mall overhead.
I used to love going to the mall as a teenager. Haven't been in years. And since my son no longer believes in Santa, there is even less of a reason to go to one. They're obsolete anyway IMO.
Not sure what having Ellen as a spokesperson has to do with falling profits ? Is the OP implying that somehow because she is Gay she managed to put off customers from shopping there ? I thought most conventional retailing had taken a big hit compared to internet shopping ?
I would have thought quality of products, prices, presentation would have a lot more to do with retail slump.
I guess Gay people should just hide behind closed doors and pretend to be "normal" so as not to offend bigots ??!?! Is that the implication ?
This thread is bizarre.
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