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Old 01-17-2014, 12:27 PM
 
Location: North Texas
24,561 posts, read 40,285,459 times
Reputation: 28564

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Quote:
Originally Posted by highcotton View Post
Close 'em all. The decision to hire CEO Ron Johnson was a huge mistake. Not only did he put a gay-friendly stamp on the company which offended a lot of people (why would a CEO publicize their view of such matters), but he also dropped the very pricing policies that made JCPenny popular with their base...and their customers expected and wanted those pricing policies to continue - marking up prices and then offering discounts with heavy promotions...
I know a lot of people who have stopped shopping at JCP in the last couple of years, but their stance on homosexuality had nothing to do with it. It's because the Collin Creek location is a basket case and nobody wants to go to Valley View, and because the merchandise is not what they're looking for.
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Old 01-17-2014, 12:39 PM
 
222 posts, read 604,069 times
Reputation: 90
The Valley View location is actually closed now.
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Old 01-17-2014, 12:41 PM
 
Location: North Texas
24,561 posts, read 40,285,459 times
Reputation: 28564
Quote:
Originally Posted by reginasmu View Post
The Valley View location is actually closed now.
When did that happen?
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Old 01-17-2014, 01:26 PM
 
Location: High Cotton
6,125 posts, read 7,474,737 times
Reputation: 3657
Quote:
Originally Posted by BigDGeek View Post
I know a lot of people who have stopped shopping at JCP in the last couple of years, but their stance on homosexuality had nothing to do with it. It's because the Collin Creek location is a basket case and nobody wants to go to Valley View, and because the merchandise is not what they're looking for.
JCPenny, as you know, has many locations. The Collin Creek location [alone] is not the reason for their lousy sales and profit problem. I dare say that every one of their locations have suffered pretty equally due to pathetically bad decisions made well over a year ago by someone without a clue.
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Old 01-17-2014, 01:28 PM
 
222 posts, read 604,069 times
Reputation: 90
Quote:
Originally Posted by BigDGeek View Post
When did that happen?
Not sure. I actually drove to VV a few days ago specifically to go to JCP to find an item I couldn't find at the Skillman/NW Hwy location since it wasn't far and was surprised to see that it was closed.
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Old 01-17-2014, 01:51 PM
 
5,265 posts, read 6,405,851 times
Reputation: 6234
When I was graduating from college in 2000 I had an interview with JC Penny IT, and the recruiter/interviewer was basically talking up what a terrible job and bad place to work it was. So even though it had a few decent years in the mid 2000s it's been on a downward trajectory for a long time. They and Sears both could have been competing with Amazon (remember the JC Penny catalog?) as rulers of the online universe but they just don't have the mgmt vision to do anything.
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Old 01-17-2014, 02:14 PM
 
Location: North Texas
24,561 posts, read 40,285,459 times
Reputation: 28564
Quote:
Originally Posted by highcotton View Post
JCPenny, as you know, has many locations. The Collin Creek location [alone] is not the reason for their lousy sales and profit problem. I dare say that every one of their locations have suffered pretty equally due to pathetically bad decisions made well over a year ago by someone without a clue.
Duh. I'm referring to people I know personally, and those are the JCP locations they go to.
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Old 01-17-2014, 07:14 PM
 
13,194 posts, read 28,298,950 times
Reputation: 13142
Quote:
Originally Posted by highcotton View Post
Neiman Marcus has their act together...
They actually have a crap-ton of debt and probably should have IPO'd vs going through a second leveraged buyout last fall. Think they have close to $3 billion in debt and about $4.5 billion in sales. Not healthy in the long-term.

They are also struggling to attract a younger customer; the average Neiman's customer is in her late 50's vs around 45 at Bloomingdale's. Hence, one reason why the Target X Neiman's collaboration was such a disaster for both retailers last Christmas. They also face intense competition from designer brands wanting their own retail stores and websites.
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Old 01-19-2014, 05:08 PM
 
222 posts, read 604,069 times
Reputation: 90
I've read that JCP is also going back to a commission structure for its store employees, but that they are also lowering their pay. How will this affect the company? I understand that most department stores have some kind of commission structure, but I just wonder how the lower hourly rates will affect personnel and morale. Looks like Ron Johnson eliminated the commissions during his reign to focus more on customer service (like Apple does), and now they are bringing it back.
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Old 02-04-2014, 07:04 PM
 
91 posts, read 162,968 times
Reputation: 47
stock down hard today. wonder what the future of the company looks like
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