I was in the stores and they are dead. As a shareholder, I am very concerned that the stores are not doing well. Should I sell? The prices are very good but how does anyone know. I personally haven't seen a good AD showing what the prices are. The dog jumping the hoop is not good advertising. People want the bottom price in this economy. How long will it take Ron to realize something isnt working? Do I sell?
Me thinks you got it wrong. As long as the customer is saving money by shopping at other stores, they are NOT dumb. And, JCP can't go back to the old pricing strategy, including coupons. They boxed themselves in by saying these NOW are the fair and square prices and to change from that would be admitting they are not being honorable with their customers - something Ron said is important to him, you know, character. But, just imagine what JCP is going to look like this next Black Friday. No customers. Why? Everyone else will be running sales, but not JCP. At least that's his fair and square deal with the customers.
I was shopping 2 days ago and it was also dead there. I paid 20 bucks for jean shorts which normally with a sale would be 15.00 or less. There is no bargains there especially with Kohls nearby, Levi's are alot cheaper there. They definetly got it wrong here. They better change is quick! I talked to a sales clerk and asked how she thought it was going. She said for those that didn't like coupons it was great. I could tell she was not happy with fewer sales. Well, we all know that people want to save and coupons help. I too am going to wait for news of change before I touch this stock. I hope they realize this did not work before it is too late!!!!
You should sell and look for a bottom not just on a technical basis but a fundamental basis as well. I do believe Ron Johnson is a competent manager that he is also an honest one. They did release information that indicates the plan is not working yet and there can be no assurance that it will work. I would sell now and watch the company and the stock fundamentals and as you see turm jump in based on your comfort level. This stock could easily be in the 20,s in a very short period of time.I believe the 4th quarter will be an indicator if any of the KPI's are begin ing to get traction if they are I will go long as the pop back can be very nice. Fallen angel concept.I like Johnson . He did not get it all right. No one does on the first whack .The issue is how fast can they change the pieces that are not working and what kind of solutions can and will be brought to focus on the critical issues. Look folks this is turnaround it is dark, ugly, very hard work and you need to eat gun powder for breakfast to make a difference everyday.I do wish these guys luck. It is an essential ingredient but mostly we make our own . that is why I went short. It is not that I do not believe that this can not work but it is not ready to work yet. Still finding a lot of problems from legacy.