Holiday sales off more than 30% at rons stores
Posted in the JC Penney Forum
#1 Jan 14, 2013
Monday, January 14, 7:19 AM Sales at J.C. Penney (JCP) slumped more than 30% during the holiday selling season compared to a year ago, according to sources. If the leaked numbers are accurate, it shows the alarming bleeding of customers at the retailer is still running full force. JCP -2.1% premarket.
source seeking alpha.
I do wonder since Ron crackpot Johnson took over sales drops have been reported of 20% for 3 quarters and now 30% for the normally high profit holiday season. does this mean sales are off 90% since ron took over?
In any case ron has certinally reinvented retail, this will be the biggest short term trashing of a large retailer thats ever occured.
#3 Jan 18, 2013
Well here is another brand that will lead to JCPs downfall, William Rast, great great brands to make some rich even richer, how much money does the Justin Timberland need? Question, what did these jeans cost to make? You would think idiots that spend this kind of money on crap like this would buy US made only with union workers. Gee they are cotton jeans the only thing magically about them is the other idiot wearing them over payed for them too. Anyone know where they are made? Let's see I can dump money into 3 or 4 pairs of these or fund my retirement. Anyone see why JCP will never be America's Favorite store? If you have to drop $150 on a pair of jeans, do it on US cotton, US made, US union workers. For that kind of money there is enough for everyone. Ron just wanted to keep his old base of customers until he moved this overpriced crap in. Lovely... He stated in that pompous way of his, JCP isn't for old ladies anymore. Well merchandise like this with its profit margin, no coupons, fair and square pricing is the only way to explain how you can majorly league reduce product square footage, remember the The Street as JCP calls those new huge wide aisle, sitting areas, center area, coffee, juice bar, candy area, play Lego area for kids to play, and turn a higher profit per square foot. Someone pays for that eye candy as square footage is extremely expensive in a store. take a good hard look at the new layout of Ron's. Compare it to Macy's, Dillard's, Kohl's where merchandise is stacked high and using every square foot of space. Yes you need discounts and coupons to move stuff when you stock this heavy not so JCP, explains everything doesn't it, you have less merchandize, you don't discount and you have to keep the price at a premium. Remember you have very little square footage of selling goods compared to the box housing it. You do the math. Apple has always been overpriced aka sold at a premium, never discounted, Ron thinks he can do this with clothing. Neatly ignoring the fact Apple produced its entire line, sold for the most part on line or thru an Apple store only. Not so for JCP, many on- line places sell these jeans at heavy, heavy discounts. JCP will become the next Best Buy, you showroom it, aka see it local, buy it on line, no coupons at JCP remember, just everyday fair and square pricing.
Take out a car loan
Ronnie, full of new ideas,
Ronnie's way it the highway, Newspapers over TV ads? Tells you were this middle age one trick pony head is, he lives in the past. The man is a dinosaur.
Anyone who is buying stock or holding onto JCP's stock is a fool. Odd thing JCP wasn't in that bad of shape before Ron, the cotton crop failure, high prices, hurt them. They would have rebound, but greed got into it. Now, on the way to being the new Kmart, go there for Martha Stewart if you want that wonderful brand. as for me I avoid both.
#4 Jan 18, 2013
One should not type on a small screen mobile device with no preview or edit function.
It Ronnie's way or the highway....Tells you where....... Mistakes among the noise of fat fingers :)
#5 Jan 18, 2013
Big companies today have gotten greedy... no profit margin is enough, no level of profit is enough, the rich get richer, just look at RJ, the 3rd highest paid CEO in america. Hired to be a hatchet man proud he has cut a billion dollars from penneys operating costs, primarily by cutting workers and gutting customer service. Penneys had record profits in 2010 hurt by rising cotton prices in 2011. Ron inherited a well run company that needed minor tweaking, but ron came in with a bulldozer and demolished what was good about penneys, excellent customer service by ong term employees who were invested in the company..
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