Fri, Aug 29, 2014, 7:03 PM EDT - U.S. Markets closed


% | $
Quotes you view appear here for quick access.

J. C. Penney Company, Inc. Message Board

  • booyahbuster booyahbuster Apr 3, 2013 9:09 AM Flag


    It is quite likely that the thousands of dollars of JCP GIFT CARDS being sold on EBAY everyday is basically stolen merchandise. How does this happen ?
    One collects a bunch of items within the JCP store , then goes to the customer service desk with all the items, and says, " I would like to return these". Then , the representative asks for a receipt. The thief has no receipt so the JCP rep says "Without a receipt we can only issue you a gift card". Then the thief sells the gift card to a pawn shop for half it's value. The pawn shop sells it for 80% of value. The buyer of the JCP gift card gets everything on sale at 80% off .
    Target stores have safe guards against this - JCP is getting robbed everyday. Ron Johnson needs to take his Target experience that prevented this type of theft , and plug the holes in JCP.
    Want PROOF - Go to EBAY and see the JCP gift cards being sold. Make sure you look at COMPLETED LISTINGS !

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Understaffed stores are a shoplifters paradise. Not enough eyes to "see" what everyone is doing and before you know it whole half back side of Levi tables empty and someone has slipped out the door with them. Then returned as "Gift from Grandma" does not fit!
      Also buyers of gift cards beware. They can always say that there is "monies charged on the card" but after you buy it and go to the store you find out there is only a few dollars left on the card or worse they stole the display cards and there is no value charged on them at all!
      I would be really careful who I bought them from!
      Also sometimes customers ask for a bigger bag to combine several smaller packages from stores throughout the mall. Once you have given them the "Large" jcp bag they can go to their car. Unload the smaller packages and come back into the store with the empty bag in their pocket. They fill it up and walk out of the store without paying for the merchandise. Without an LP in the stores to track this type of shoplifter thousands of $ are walking out the doors of jcp's around the country just to add to the lack of sales they will have a huge shrinkage # at inventory time. But maybe Ron will decide that there is no need to keep track of inventory levels! He has eliminated everything else!

    • This has been going on for years. It's worse since the "happy returns" policy went in to effect, but there has always been a theft problem. Many stores are without LP due to budget cuts. Merchandise goes out the doors by the bagfull.

    • Okay, sorry for the triple incomplete posts, don't know what is going on.

      Just wanted to say that those of us on the front lines knew the Anything, anytime, anywhere return policy was going to cost the company large and it has. As of March 1st, that policy is gone and the new return policy is 60 days with a receipt. Returns without a receipt may be refused on a case by case basis.

    • I think there is a lot of truth to what you are saying. When they introduced the very, very liberal return policy i.e. ANYTHING

    • I think there is a lot of truth to what you are saying. When they introduced the very, very liberal return policy i.e. ANYTHING

    • Nah, there are just millions of customers that got JCP gift cards as presents and hate the merchandise. They probably sold the cards at yard sales and ebayers got them dirt cheap.

      • 1 Reply to simply.primitive
      • I have bought some . The large $200-$400 gift cards came from pawn shops. Often they came with receipts that indicated the customer had no receipt.
        By the way - I think JCP products are very good. This is why I bought the gift cards. I would like to see JCP succeed but there is no way to succeed if thieves can rob you blind.
        Can I prove that these tactics are being used ? no - but I have very strong suspicions.

    • Could it be that many of these cards are either unwanted gifts that people are trying to sell in order to get cash for things they DO want? Or vouchers from returns made by honest customers without receipts who no longer like the quality of JCP merchandise? I can't believe that most are as a result of fraud.

    • Compare the gift card scam to what RJ's starting pay of $54 million and the $4 billion in lost sales due to his "plan" . Then tell me about theft.

    • Whoops - should have read - the JCP gift card buyer gets everything at 20% off . Oh well . No matter what , JCP is getting 100% RIPPED OFF and the JCP shareholder is paying for it dearly !

10.80-0.05(-0.46%)Aug 29 4:00 PMEDT

Trending Tickers

Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.