Can Private Labels Restore J.C. Penney's Profits?
After the deluge of commercials asking for customers to come back, expressions of gratitude , and plugs for its refreshed home furnishings department, J.C. Penney's quietly making over its private label business.
Join the discussion below, or Read more at Forbes.com.
#1 Jun 18, 2013
Ullman said in an interview, while on vacation, still retired, he was hunted down, it was JCPenny's in-house brands that supported the other higher end, slower moving brands aka higher profit.. You have a lot of control over in-house brands including cutting prices when you need, aka sales, to drive people to the store where they make impulse buys in other areas.
Basically in--house products are the glue of a store. When you think about it the overhead cost are lower for an in-house design where you control production, the design, the Logo you own.
Now look at Joe Fresh.
"Joe Fresh is a fashion brand and retail chain created by designer Joe Mimran for Canadian food distributor Loblaw Companies Limited. "
Loblaw is nothing more than a Canada Walmart. Now JCP has to make more to cover the Logo Brand, the profit to Mimran. It is hard to believe JCP can offer Joe Fresh cheaper or at the same price then say a in-house brand like St John's Bay.
#2 Jun 18, 2013
One thing for CERTAIN, ron Johnson didnt do anything to help Penneys:( He universally didnt do ANYTHING right........
#3 Jun 19, 2013
Believe it or not, Joe Fresh is selling pretty well!(in our area, at least). BUT, it goes without saying that the returned SJB is selling phenomenally well. It is STILL a good (but boring) well-priced line of casual, easy care clothing. Lesson learned (stupid RJ !)--if it ain't broke, DON'T fix it!
#4 Jun 22, 2013
I believe JCP stores will be Joe Fresh stores. Watch for the Joe Fresh Kids coming soon.
#5 Jun 23, 2013
Just heard about Okie Dokie being clearanced and illiminated, with Joe Fresh replacing it. This management should have learned at least one thing, and that is to listen......to customers, and employees who work closely with them. I search hard to find something/anything positive after RonJon's departure, it is more than a slow come back. Most of the items in the newest home store are not priced at all, and we get critized by the customer. The only place that could be worse, is to actually be on the pricing team. Really hope other stores are running smoother than ours. Most of the employees, even management who had any kind of experience in operations are gone...and the wiser for it. These young kids spoken of in above comments are now in the Supervisor roles.
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