JC Penney: A Merry Christmas?

Oct 11, 2013 | Posted by: roboblogger | Full story: Barron's

JC Penney's shares have dropped today, though the selling pressure is nothing compared to what it has been recently .

Comments
1 - 20 of 29 Comments Last updated Nov 13, 2013
First Prev
of 2
Next Last
Jcp associate

Villas, NJ

|
Report Abuse
|
Judge it!
|
#1
Oct 12, 2013
 

Judged:

1

1

Store leader conference call told me jcpenney will be open thanksgiving day
bob haller

Pittsburgh, PA

|
Report Abuse
|
Judge it!
|
#2
Oct 12, 2013
 

Judged:

2

1

1

sounds like a good idea since the chains survival is at stake
laura baltimore

Rosedale, MD

|
Report Abuse
|
Judge it!
|
#3
Oct 14, 2013
 

Judged:

2

2

1

what the hell we need to spend time with family and friends wow not fair to us associates we need this time to rest for black friday what time are they saying to open not fair
bob haller

Pittsburgh, PA

|
Report Abuse
|
Judge it!
|
#4
Oct 14, 2013
 

Judged:

2

1

1

laura baltimore wrote:
what the hell we need to spend time with family and friends wow not fair to us associates we need this time to rest for black friday what time are they saying to open not fair
penneys needs every dollar it can make to survive.

would you rather work thanksgiving?

or be unemployeed?

of course no job means relax, but no money.

Since: Feb 13

Location hidden

|
Report Abuse
|
Judge it!
|
#5
Oct 14, 2013
 

Judged:

1

Bob: I agree about the company needing every dollar, but I doubt that opening up at midnight is going to be the saving grace for the company. Now, if they have amazing sales that are competitive and can draw in customers during that early part of the day, it might make sense to be opening up 5 or 6 hours earlier that day. It has to be more then a free snowglobe (and many customers come in to get just that and then walk out without buying anything).

With the addition of 60 temp employees at our store, I don't think the extended hours will affect that many of the regular associates. They will put the right employees in shifts that will best serve the store. The key will be who they can count on who will show up when assigned a time.(the temps). They will still have to have some regulars to take up any slack due to no shows.

As for Laura's comment...most family has already left by midnight (maybe to shop?) so whether one is scheduled for the midnight shift or the five AM shift, it will be about the same when it comes to be drug away from family activities.

We can be getting inclement weather that time of year so if there is a blizzard, all this concern about working earlier hours could be moot. At least the company is TRYING to be competitive with other stores on Black Friday.
laura baltimore

Rosedale, MD

|
Report Abuse
|
Judge it!
|
#6
Oct 14, 2013
 

Judged:

1

1

1

i will work on black friday my regular time shift 5pm to close that is what i will do this is real crazy but jcpenny needs the money because of rotten apple johnson did to our company what a shame this had to happen we have to pay for his miskates he made with our company
Jvette

Henderson, NV

|
Report Abuse
|
Judge it!
|
#7
Oct 14, 2013
 

Judged:

2

1

If we open on Thanksgiving, it will be because our competitors are opening then. Last year, when our competitors were opening at midnight, we opened at 6AM. By the time we opened, many people had already spent their budget and only those few who rushed the door were there for the cheap kitchen electrics.

Those went very quickly and though we had some steady business throughout the day, the individual sales were small.

I don't relish the idea of working on Thanksgiving, but will report when I am scheduled. I think it will probably be at opening since I am one of the most experienced in the store right now.

I expect to get great hours over the next few weeks getting the new hires ready.

Our store leader has hinted at some great things in November. He recently attended conferences with the regional and district higher ups. The tone of the morning meetings has been upbeat and confident.

That is how they want us to be. I am always professional but I am still skeptical for what is going to happen long term with the company.
laura baltimore

Rosedale, MD

|
Report Abuse
|
Judge it!
|
#8
Oct 14, 2013
 

Judged:

2

2

1

well right now my hours suck where are the hours i need to pay my bills and rent this is really bad for me what a shame i need more hours give them to me instead of others who always calling out all the time what a shame

Since: Oct 13

USA

|
Report Abuse
|
Judge it!
|
#10
Oct 16, 2013
 

Judged:

2

1

1

Guys,it is what it is... I agree that working on Thanksgiving SUCKS! This company is in a huge fight for survival, thanks to MoRon. As much as I detest the thought of working on Thanksgiving, I will report to work, if scheduled. In its current precarious condition, JCP MUST become a competitive force in retail or none of us will have ANY hours, ever again! With the weak condition of the US economy, can any of us really afford that?:(
laura baltimore

Rosedale, MD

|
Report Abuse
|
Judge it!
|
#11
Oct 16, 2013
 

Judged:

2

2

well this is a real shame about jcpenny we were once a very good busy everyone buying store now we are paying for rotten apples rotten miskates this sucks dont fix was once wasnt broken the store was doing so well what a shame this had to happen just keep the sales and coupons coming this helps our sales stay good

Since: Oct 13

USA

|
Report Abuse
|
Judge it!
|
#13
Oct 16, 2013
 

Judged:

5

1

1

laura baltimore wrote:
well this is a real shame about jcpenny we were once a very good busy everyone buying store now we are paying for rotten apples rotten miskates this sucks dont fix was once wasnt broken the store was doing so well what a shame this had to happen just keep the sales and coupons coming this helps our sales stay good
Laura, I must reiterate that even BEFORE MoRon, JCP's fortunes had declined somewhat. YES, the stores were busy BUT due to the poor economy,(starting around 2008) deep discounts, poor stock performance; too much clearance, public perception of the company as "stale" or un-hip ( & whatever other factors I've forgotten) PROFIT margins weren't that great. Cash-on-hand (reserves)wasn't a problem UNTIL MoRon came to the helm. MoRon & his cronies blew through much of JCP's reserves which is why Mr. Ullman is now forced to go begging for money in order to UNDO MoRon's mess.(To put it simply--LOANS up the wazoo!) When I started @ JCP, our stock hovered around $35 -$40/share. Before MoRon it went down around $19. During MoRon,$13. It is now about $7. In other words--we're gonna have to sell A LOT of PJ's, robes & waffle irons this Xmas to even begin to dig ourselves out of this hole. The sooner we start, the better.FYI Macy's is opening @ 8 pm on Thanksgiving.(UGH) Those who are vested employees & retain ANY (albeit tattered) shred of loyalty to this beleaguered company will have to do what it takes JUST TO HELP JCP SURVIVE. SO if you wish to "pay your rent" in the future I would suggest you quit complaining & do your part.
BlueBerry JCP

Buffalo, NY

|
Report Abuse
|
Judge it!
|
#15
Oct 17, 2013
 
Jcp is opening at 8pm on Thanksgiving, staying competitive!

Since: Feb 13

Location hidden

|
Report Abuse
|
Judge it!
|
#16
Oct 17, 2013
 
We were told at morning meeting yesterday that JCP is holding off announcing a firm opening for BFriday until the end of October or early November.

I have read that it isn't really the Macy's, Kohl's type of competition that is causing this need to open on Thanksgiving - it's the big box stores like Walmart that all of the stores like JCP are facing Black Friday competition from.

I remember when retail stores were never open on Sundays so this Thanksgiving opening is just an extension of that gradual disintegration of family time in the US and the need to survive when our economy is based on people buying. I am not saying one way or the other is right or wrong. It is just another step in the direction our retail culture has been doing for decades.
BlueBerry JCP

Buffalo, NY

|
Report Abuse
|
Judge it!
|
#17
Oct 17, 2013
 
Store managers were instructed to schedule managers at 8pm for Black Friday.
Jona Alawo

Houston, TX

|
Report Abuse
|
Judge it!
|
#18
Oct 17, 2013
 
Stock will go up like crazy (all the way to $9.5 as soon as they will hire new CEO and after that to $12 when they will announce improvement in sells.

Anyway, I keep buying at current price (~$7.3) be smart and make money from this opportunity!

Good luck you all :-)
Me In Fl

Pinellas Park, FL

|
Report Abuse
|
Judge it!
|
#20
Oct 18, 2013
 
JCPTM wrote:
We were told at morning meeting yesterday that JCP is holding off announcing a firm opening for BFriday until the end of October or early November.
I have read that it isn't really the Macy's, Kohl's type of competition that is causing this need to open on Thanksgiving - it's the big box stores like Walmart that all of the stores like JCP are facing Black Friday competition from.
I remember when retail stores were never open on Sundays so this Thanksgiving opening is just an extension of that gradual disintegration of family time in the US and the need to survive when our economy is based on people buying. I am not saying one way or the other is right or wrong. It is just another step in the direction our retail culture has been doing for decades.
We were shown a little video Thursday morning, and the video stated that the 8pm Thanksgiving opening press release would be today.

Since: Feb 13

Location hidden

|
Report Abuse
|
Judge it!
|
#21
Oct 18, 2013
 
Yes, I saw it on the Bloomberg report on the national news. It was the morning meeting Tuesday that we were told it wouldn't be firmed up until later. We got to sign up today for our preference for working Black Friday - a long shift (10-12 hours) or two split shifts, one Thurs and one Fri.

We are opening up our new Sephora and the interest has been extremely high from customers. They had a soft opening for friends and family today and they had already surpassed their goal by 11AM. Our area has been underserved in that area where customers have had to travel one or two hours drive to get to one.

The customers have been returning and have been positive about the remodel and are excited about all of it nearing completion. We are definitely going to be ready for the holidays when it comes to the store being set up for a great shopping experience. I sure am interested in seeing if there are that many customers coming in between midnight and five though.

Anyone hear when Kohl's is opening? Probably 7PM, you think? The rest of our mall doesn't open until midnight Black Friday.
Jvette

Henderson, NV

|
Report Abuse
|
Judge it!
|
#22
Oct 19, 2013
 
JCPTM wrote:
Yes, I saw it on the Bloomberg report on the national news. It was the morning meeting Tuesday that we were told it wouldn't be firmed up until later. We got to sign up today for our preference for working Black Friday - a long shift (10-12 hours) or two split shifts, one Thurs and one Fri.
We are opening up our new Sephora and the interest has been extremely high from customers. They had a soft opening for friends and family today and they had already surpassed their goal by 11AM. Our area has been underserved in that area where customers have had to travel one or two hours drive to get to one.
The customers have been returning and have been positive about the remodel and are excited about all of it nearing completion. We are definitely going to be ready for the holidays when it comes to the store being set up for a great shopping experience. I sure am interested in seeing if there are that many customers coming in between midnight and five though.
Anyone hear when Kohl's is opening? Probably 7PM, you think? The rest of our mall doesn't open until midnight Black Friday.
I have been gone all week using up some of my PTO before the holiday season and the new year, so I haven't heard anything about BF. Hope I didn't miss out on my chance to state my preference for that day, lol.

Whatever it is, I will work when scheduled. Thank God my kids are grown and it won't interfere with any family holiday traditions.

Since: Mar 13

Tobyhanna, PA

|
Report Abuse
|
Judge it!
|
#23
Oct 19, 2013
 
It won't matter what day or time we open if we don't have the appliances they want, or if the stuff has a rebate. We already know the coupons don't work for part of the home dept. Hopefully this year will be better in those ways.
juan johnnie

Tucson, AZ

|
Report Abuse
|
Judge it!
|
#24
Oct 20, 2013
 

Judged:

7

7

1

Don't worry..... all of you will lose your jobs come next year. This company is going down the toilet.

Tell me when this thread is updated: (Registration is not required)

Add to my Tracker Send me an email

First Prev
of 2
Next Last
Type in your comments below
Name
(appears on your post)
Comments
Characters left: 4000
Type the numbers you see in the image on the right:

Please note by clicking on "Post Comment" you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms. Be polite. Inappropriate posts may be removed by the moderator. Send us your feedback.

•••
•••