J.C. Penney Reports Loss And Plummeting Sales In 1Q

[SoutherDem]

5. Not surprised

I worked for JCPenney for 18 years. Left when my position was eliminated and chose the separation package instead of the position offered me.

Friday I was at two friends retirement party, three others retired with in the last couple of months and one more is leaving this week. Don't misunderstand me we are not talking about 62-65 year olds, all were buyouts of those with enough time with the company. They have been cutting much of their experienced labor. Another friend told me they were hiring right and left while cutting his hours.

Apparently the new pricing plan isn't working and if it isn't working in the 1st quarter I hate to see what will happen in the 4th quarter if they don't change back to mark-up and put on sale.

For myself, the last two times I was in the store I found their selection to be geared toward, well certainly not me.

I heard they went with an ex Apple executive as their CEO. Well, the Apple plan works for Apple but apple has an unique product. JCPenney is somewhere between a upscale Walmart and a Belks nothing unique.

Hey, guys. Why not go back to the Penney Idea. Since you are getting rid of everyone with experience you may not know anyone who remembers it. It was a list of quotations by Mr. Penney. It got the company through its first 100 years.