J.C. Penney loses Caribou Coffee as partner for revamped stores

Mar 15, 2013 | Posted by: roboblogger | Full story: detroitnews.com

Caribou Coffee Co. will no longer pursue plans to open shops inside J.C. Penney Co.

Comments
1 - 17 of 17 Comments Last updated Mar 18, 2013
Another strike

Newport News, VA

#1 Mar 15, 2013
Oops, Ron just pooped his pants, not to worry, he will run over Nordstrom and get another pair.
EX-JCPenneys

United States

#2 Mar 15, 2013
Hmmmm...What does that tell ya Ronnie boy. No coffee vendor, oh noooo. How's that Martha deal going Ronnie boy. I think Mr. Roth when he gave the word to sell all those shares saw something that Ronnie boy doesn't. Does this mean there won't be any Yoga classes coming anytime soon to J.C.Penney, oh I mean JCP(Johnson CAN'T PRODUCE)! 22,000+ folks lost their jobs because of you. YOU SHOULD BE THE ONE FIRED!
AFTony

Independence, MO

#3 Mar 15, 2013
Well, now this is a turn - even vendors are bailing. The thing that gets me is - Did anyone take into consideration the size of the facilities when they intruduced these stores within a store? Expecially here in rural midwest? The stores are so small it would take so much square footage of the facility you couldn't stick more than 6 "Stores" inside of a facilty like Sedalia Mo.

Oh good luck with that Martha deal-You won't get it.
James

Newport News, VA

#4 Mar 15, 2013
AFTony wrote:
Well, now this is a turn - even vendors are bailing. The thing that gets me is - Did anyone take into consideration the size of the facilities when they intruduced these stores within a store? Expecially here in rural midwest? The stores are so small it would take so much square footage of the facility you couldn't stick more than 6 "Stores" inside of a facilty like Sedalia Mo.
Oh good luck with that Martha deal-You won't get it.
Why you silly midwest country boy, those stores will close one at a time each time Ron's JCP private jet that he uses to get to work needs bottle water.:)

I grew up in a small town < 1,200 people, yeah, I know what that is like, 40 mile trip to nearest city with stores.
bob haller

Pittsburgh, PA

#5 Mar 15, 2013
James wrote:
<quoted text>
Why you silly midwest country boy, those stores will close one at a time each time Ron's JCP private jet that he uses to get to work needs bottle water.:)
I grew up in a small town < 1,200 people, yeah, I know what that is like, 40 mile trip to nearest city with stores.
reportedly 300 mostly smaller stores are closing nationwide
Texas and Cow Paddies

Newport News, VA

#6 Mar 15, 2013
bob haller wrote:
<quoted text>
reportedly 300 mostly smaller stores are closing nationwide
"We went after every non-core asset that we had on the balance sheet and said ‘how do we make sure we fund this transformation internally?"

From good old Ken of J(ohnson)CP, care to define non-core, workers, smaller stores.
bob haller

Pittsburgh, PA

#7 Mar 15, 2013
They closed a nice big penneys at monroeville mall near pittsburgh, replacing it with a small JCP. The JCP sign on the outside of the building is tiny.
They fired their long term employees replacing them with teenagers who look ill kept, wrinkled clothes and all....

JCP needs cost ccutting at the top! The CEOs salary should be zero! Thats what he has earned by crashing the company!
Ex-jcpPlanoHQass ociate

Dallas, TX

#8 Mar 17, 2013
bob haller wrote:
They closed a nice big penneys at monroeville mall near pittsburgh, replacing it with a small JCP. The JCP sign on the outside of the building is tiny.
They fired their long term employees replacing them with teenagers who look ill kept, wrinkled clothes and all....
JCP needs cost ccutting at the top! The CEOs salary should be zero! Thats what he has earned by crashing the company!
Bob, you sure love to troll these boards all day, everyday. You need another hobby. As for MoRon Johnson, he is categorically the stupidest person in retail. I'm sure one of the "teenagers who look ill kept" could replace MoRon and do a better job.

I have to disagree with you on Monroeville Mall though. That mall is lucky that JCPenney even kept a store there to light up the long darkened Horne's/Kaufmann's/Boscov's anchor spot (at least part of it). Monroeville Mall was a nice place to shop a few years ago, but the ghetto has slowly crept its way to consuming that area. The mall has lost many mainstays that typically define a top tier mall. When stores such as Gap, Gap Kids, baby Gap, abercrombie (the kids version), Crabtree & Evelyn, PacSun, Guess and others begin being replaced with Rainbow Fashions, Jimmy Jazz, and other specialty store chains in that same vein catering to a less educated, lower income, urban demographic it's only a matter of time for any mall. Once the mega movie theater that is replacing the old JCPenney opens, the rapid decline will start. Monroeville Mall is at its tipping point. You have retailers like American Eagle, Victoria's Secret, Hollister, and Chico's still... But just watch... As lease renewals come up, they will rapidly disappear and the mall will begin to resemble a flea market as Asian gift shops, cheap suit shops, and hair weave and beauty supply shops eerily occupy what you was formerly a chain retailer's space and the design so unchanged that anybody can tell what was there previously.
bob haller

Pittsburgh, PA

#9 Mar 17, 2013
I gather your from or visit the pittsburgh area? Northway Mall just 2 minutes from my home was sold at sheriff sale, the new owner hopes to rebuild it and find new tenants, currently its mostly vacant and a large part was torn down because the owners felt it could never get filled. It was the first enclosed mall in pennsylvania. I attended the community meeting abut its redevlopment not long ago.

Century 3 mall is in decline too, crime is a big problem,I remenmber when that mall was built on a old steel slag dump.

Ross park mall appears to be doing well, it went upscale with nordstrum. Nearly all the affordable stores left.

Nearly all the malls around here are in decline, even the new one on 28. It opened to much hoopla, and went bankrupt, Its mostly vacant for small stores, the Sears grand is a grand failure. During the week the place is dead except for the theatre.

there is a penneys in washington pa where the mall its attached to is nearly all vacant. They were talking about tearing down the attached mall. When I was there a few years ago the penneys main mall entrance was only open wide enough for 2 people to pass one another. Penneys workers said it was to keep the stores heat from leaking into the vacant mall which was freezing cold.

Monroeville mall is supposed to getting rebuilt, for awhile there was so much crime there the police had a station in the mall.

Allegheny center mall got turned into a office complex after ross park mall was built.

Most of these malls should be on deadmalls.com they certinally qualify.
bob haller

Pittsburgh, PA

#10 Mar 17, 2013
Penneys before Ron Crackpot Johnson was my favorite store and I was friends with many penneys workers. Most had worked there for a lifetime and provided excellent service, since I am colorblind I knew I could depend on the great salespeople to have me looking good:)

I troll these boards since idiot ron killed all that:( Plus I worked for a company killed by a incompetent drunk who was the president. I watched him kill the company and our family of workers... I worked there right out of high school for 9 years.

I guess I identify with the penneys employees and what they are going thru. Espically since I worked for awhile for a fixture liquidator and helped shut down value city department stores.

I watched the employees grieve the closing of their store some had worked the northway mall store for 23 years.

Incidently its been years that space sets just as we left it, still vacant after all these years

Since: Feb 13

Gibsonville, NC

#11 Mar 18, 2013
Ronnie Crackpot Johnson is running out time, money, & ideas to create "America's Favorite Store" to shop in.
In the last year and a half. We have lost alot of former jcp customers to Belkes, Macy's, Dillards, & Kohl's. Those stores have hired alot of the most talented ex JCP employees, that you laid off. All those stores seem to be doing just fine. Ron is digging a hole he will never be able to get out of. Closing Stores? Cutting Jobs? You call that being creative? You've really stirred up the hornet's nest.
I still haven't figured out why the Board of Directors brought Ron Johnson on board after what he did at Target.
I'm afraid his days are numbered. Do you honestly think we can avoid going under with yearly losses of 985 million dollars.
HGirl

Los Angeles, CA

#12 Mar 18, 2013
Wow- so apparently anything said on the internet is true? Don't you think Ron knew before this publication that this chain pulled out? Better yet- did you ever think maybe he did the pulling??? I can't wait to see all the continued changes and maybe a ton of you will be kicking yourselves when the company finishes reinventing itself? The company was slowly going down BEFORE Ron joined the team. Sometimes it takes bold moves and chances to make the changes needed to bring back an entire business- while at the same time changing the way a retail establishment is portrayed!
bob haller

Pittsburgh, PA

#13 Mar 18, 2013
HGirl wrote:
Wow- so apparently anything said on the internet is true? Don't you think Ron knew before this publication that this chain pulled out? Better yet- did you ever think maybe he did the pulling??? I can't wait to see all the continued changes and maybe a ton of you will be kicking yourselves when the company finishes reinventing itself? The company was slowly going down BEFORE Ron joined the team. Sometimes it takes bold moves and chances to make the changes needed to bring back an entire business- while at the same time changing the way a retail establishment is portrayed!
Penneys had RECORD PROFITS in 2010 hurt only by the increased cost of cotton in 2011, then ron came along:(

So far rons reinvention have hurt sales volume dramatically, brought about major $ losses, and hurt margins a lot. He has had no choice to bring back sales and coupons, and is now bringing back old favorite brands. Now he FIRED his core customers and is no doubt hoping they return. But he also offended the morals of lots of those core customers by sucking up to gays, wholesale firing of talented sales people, and generally ruined my and so many other customers favorite store. As long as ron is in control, and untill penneys apologizes to its once loyal customers we wouldnt be back. Even if all this occurs many customers fired by penneys may find they like Macys, kohls etc better. I think its highly likely no matter whats done today its already too late and penneys will end up bankrupt in liquidation. My hope is idiots like ackman lose every cent of their money to discourage future things like this
janet

Chicago, IL

#14 Mar 18, 2013
I think somebody drank the kool aid.......

Since: Mar 13

Oakley

#15 Mar 18, 2013
I must admit I tried sipping on the kool aid 'at first' but then it made me 'throw up' lol.
Two face Ron

Newport News, VA

#16 Mar 18, 2013
Ron stated when asked during that Macy's trial that is going on, JCP was doing fine before he got there. Google it, info comes from reliable news sources reporting. You will also find out how fair and square Ron works, thinks, treats people. It is nothing to be proud about.

And yes the raw cotton prices hurt everyone in retail, well documented. JCP just needed to ride it out like everyone else. That hedge fund manager who sits on the JCP board is rumored to be the one who lobbied for Ron, basically looking for a quick stock buck profit. So someone who controls, I forget the number, 15-17 % of the stocks did this, basically greed.
bob haller

Pittsburgh, PA

#17 Mar 18, 2013
ackman is the idiot who brought ron j to penneys. I HOPE his hedge fund looses every dollar they spent on stock. He richly deserves it

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