Is JC Penney really headed for a comeback?
Wall Street sees huge upside in the beleaguered retailer.
Fast forward to May, when the beleaguered retailer stunned Wall Street by reporting a quarterly loss that was double what was expected, suspended its dividend and said it no longer expected to meet its GAAP guidance for the year.
As a result, the Journal remarked, "Ron Johnson is getting a taste of what it's like to run a retail operation without world-beating products, and so far it is not pretty."
Johnson seems to have a vision. He wants to add stores in metropolitan areas to compete with Macy's (M) and Kohl's (KSS), which are currently eating's J.C. Penney's lunch.
As a former employee of JCPenney, I was so sad to see the store where I was employed for almost 30 years to get into so much trouble.
It is not the same store, not even close to it. I do not like the way the new advertisement is handled and them not having sales is not going to bring people in, even me.
Lets get back to the good quality of merchandise also, I have seen such a turn around in the clothes and makes it look like they are being purchased at a Walmart or Target. JCPenney can do so much better than they are doing if they listen to the customers who made them what they were.
Even with the Red Tag Sales they were in much better shape and making money than they are in today. Come on Managers and CEO's get things going again in the right direction. JM
went in today to check for a pair of running shoes - didn't have my size - checked the prices on some things I had bought before about a year ago - layered tee that I got on sale for $9 was now everyday low price of $15 - Island Shore shirt I paid $20 for was everyday low price $25 to $30 -
Not very crowded for a Father's Day weekend - didn't see any same sex couples shopping either LOL
The buyers have changed the clothing line and it seems to look cheap. I don't care who they have as a spokesperson for advertising just bring back the quality and you will have me back as a shopper.
I remember a year or so ago, my wife and I got one of JCPs '$15 off any item $15 or more" (or some great $$ figure like that). We went to get her a small item for $15 or so and ended up walking out spending over $200 on a jade necklace for my daughter's 21st birthday
BAD MOVE JCP.....bring back the customers...bring back the marketing strategy.
JCP will never get another dime from this household...Kohls reaps the benefits.
Better quality,...Fair and Square!
JCP has put the noose around their own neck with their choices in advertising and their spokespeople.
I will never shop there again.
I hope Ron Johnson reads some of these posts. In my humble opinion, my local JCP sells a lot of very plain clothes for men at average prices. A St. John's plain polo shirt can't compete with a more updated shirt at Target for the same price.
I've also been in the area where they sell Keurig stuff and JCP's everyday prices are still higher than most (except Kohls - what is Kohls thinking?). Macy's, who usually is higher priced in all departments is lower priced i this area.
If the prices are the same as others, JCP has to offer something more. Personalized service? That would be different from the rest. Macy's used to do that and I loved it. If I was in the clothes dept someone would show me possible selections and it was very helpful. They weren't pushy at all. Whatever happened to that type of service? Ron, are you listening?
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The solid report comes a month after the retailer closed all of its Canadian operations.
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