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Old 08-27-2014, 02:11 AM
 
Location: Tennessee/Michigan
28,965 posts, read 49,703,440 times
Reputation: 21029

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Can J.C. Penney close its way to prosperity? JPMorgan analyst Matthew Boss seems to think so -- and it looks like the market agrees.

Shares of J.C. Penney (JCP) rose more than 5% Monday and are on track to close at their highest price since last September. The stock is now up nearly 20% in 2014.

J.C. Penney stock soars on a forecast of more store closure - The Buzz - Investment and Stock Market News
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Old 08-27-2014, 07:07 AM
 
Location: Florida
4,103 posts, read 4,607,735 times
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These anchor stores need to find a niche quickly or get out. Online shopping makes it way to easy to buy designer clothes on the cheap. I personally haven't walked into an anchor store in years.
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Old 08-27-2014, 08:47 AM
 
Location: East of Seattle since 1992, originally from SF Bay Area
33,267 posts, read 60,461,641 times
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Quote:
Originally Posted by thatguydownsouth View Post
These anchor stores need to find a niche quickly or get out. Online shopping makes it way to easy to buy designer clothes on the cheap. I personally haven't walked into an anchor store in years.
Same here, I think the last time was 6-7 months ago when I went into Sears with my wife who was returning something she bought online from land's End. I spent the time going up and down the elevator with our little grandson. I can't remember going into Penney except when passing through it to get to another store at a local mall.
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Old 08-28-2014, 12:37 PM
 
Location: State of Transition
86,438 posts, read 79,569,875 times
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It's interesting that Penney's is closing more stores. A friend of mine worked for Penney's a few years ago, and said they were planning a big expansion, to buy up the Mervyn's and other budget dept. stores that had just gone out of business. Sounds like it was wishful thinking. Penny's in my town is popular, though. But that's because the only other dept. store is Dillard's. There's hardly any competition, and they have frequent sales, which Dillard's doesn't.
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Old 08-28-2014, 04:51 PM
 
795 posts, read 1,101,486 times
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Quote:
Originally Posted by John1960 View Post
Can J.C. Penney close its way to prosperity? JPMorgan analyst Matthew Boss seems to think so -- and it looks like the market agrees.

Shares of J.C. Penney (JCP) rose more than 5% Monday and are on track to close at their highest price since last September. The stock is now up nearly 20% in 2014.

J.C. Penney stock soars on a forecast of more store closure - The Buzz - Investment and Stock Market News

Not read the article you posted... sorry...

But if they close stores not making money, sure they can make money. I had to close out a couple of sellers who basically were not making me any money. Cost something to keep those people on my books.
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Old 08-31-2014, 09:32 PM
 
Location: California
32,320 posts, read 35,699,796 times
Reputation: 28179
Yes. Sell, sell, sell.
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Old 09-03-2014, 07:40 PM
 
3,904 posts, read 2,576,522 times
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Yet, JCP has just opened it's first Brooklyn store.
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Old 09-03-2014, 08:05 PM
 
Location: East of Seattle since 1992, originally from SF Bay Area
33,267 posts, read 60,461,641 times
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Just found out today that our local JCP is closing, at the upscale Bellevue Square Mall. I wonder if JCP is closing it or the landlord just wanted them out because they are like the Walmart of the department stores and don't fit with their vision.


The Bellevue Collection
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Old 09-04-2014, 11:06 AM
 
3,332 posts, read 7,484,752 times
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Until I started reading this thread I didn't know that JCP was still in business. Think the last time I was in there was to buy a dress shirt and tie for my senior picture back in the mid-80's.
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Old 09-11-2014, 01:33 PM
 
Location: Wisconsin
336 posts, read 349,008 times
Reputation: 235
I had one of the former presidents of Penny's as a patient. We became close friends
And he shared many innovative ideas that wre a hard sell to early boards. He wanted
to leave all malls and cteate a similar "Target" design and mechandizing scheme. I
Still only shop at Penny's today finding quality and value way best over other store.
Closing unprofitable stores is a good move but hopefully employees can transfer in
spite of distance or provide severence. Additionally, mall investors/ owners are turning
malls into ghost towns and suggests economc collapse.

Last edited by Inattentive; 09-11-2014 at 02:25 PM..
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