Lets us know where you were, what you saw and what the sales people say.
Here's the thing ...it's one thing to have a vision and it''s another to execute it across 1,100 stores. The final transformation is occurring as we speak. I've seen big changes, just in the last month. The vision is finally reaching the consumer, the rubber is finally meeting the road.
So, while everyone is focused on writing about this quarter and how much money has been lost, about how Ron Johnson ruined JCP...the REAL story is, Ron Johnson's vision is finally in the stores, will it work? I happen to believe strongly it will. But that's an opinion. The truth is in the traffic and what's going on in those stores across America. Are there lines at the register? Are people buying items, not browsing? Are there young people (teens and early twenties women), do the sales people say it's picking up? Are they emphatic when they say yes? How does the traffic compare to other stores?
If we all do a little bit and post here, we'll get a pretty good idea of where JCP is in the early stages of the public meeting the vision. It's important to be truthful and not bend the experience. Obviously, so much has to do with WHEN you go. That's why it's important to swing by Macy's and a couple of other retailers for a comparison of foot traffic and register traffic. In the two I've been to in the last couple of weeks, both were shree Ive been to, all were whooping on Macy's. I will go to another one this weekend.
If the public takes to the concept, this stock will whiplash back to $40 and higher. If they don't, then JCP likely will be exploring alternative business models by this time next year. I'm 90% sure it will be a big hit. For all those employed and invested, I sure hope that proves to be the case.
By the way, please do not be dissuaded by a character who will soon post here multiple times, under different aliases. He most likely is an hourly employee of some fund, paid to spread misinformation and lies and attack the credibility and conviction of a shareholder like myself. It's all part of being an investor in the 21st century.
I've caught him in at least a dozen lies over the last week and as it turns out, he's not very effective at what he tries to do but thought you all should be warned.
Please place him on ignore. Again, he's not dangerous but he's not truthful or sincere and best to just avoid his posts.
I will be away from my computer today, but do hope you will take a little time to peak into a JCP and let us know what you see! Have a great weekend, all!
"long" investors would like to read your posts. "short" hates it. I bought some and may buy more and all your kids' college. All recent hypes remind me my previous LCC and BBY purchase, when things turn ugly, I like to step in with my two cents. Odds are that most hypes are not real. LCC was driven down to $1.47 and survived, BBY to $11 and survived. They are better and better. JCP has Soros and GS as backing, it will thrive. Personally I don't like Soros's news (if Ichan, better) but GS is so big for me.
You mean the hypes like chasinghistail is spamming all over the site? Just ignore him, soon they will have him sedated and back in the straight jacket in his padded cell pizzing his pants and mumbling to himself.
Ron Johnson's vision did ruin JCP....I was in there 2 weeks ago on a weekend and the registers were empty, very few people shopping. No sales anywhere. Everyday low prices (doesn't work here, only at walmart).
Last weekend I went back because of the sales advertisements....and it was packed.....every register had 10-15 people waiting in line. almost every rack was displaying 30% off.
Ron Johnson's vision didn't work.....at all.
Sentiment: Strong Buy
Certainly the everyday pricing part of the vision did not work at all. I completely agree. It's the layout, the lighting, the designer deals and the merchandise shoppers will see and decide for or against purchasing is the part I'm excited about. Took too long to implement but I've seen a big change over the last two months in terms of the amount of merchandise and the way it's displayed. So, I think teh return to the old pricing helps but I also think having the stores stocked and built out to his vision is just adding fuel to the fire.
I'm not going near the place. So many seasoned associates I used to know and did business with got the ax--at least 75 people with many years of great service disappeared from my local store. How soon we forget those whose careers were the collateral damage, now that JCP has "apologized" and reinstated sales and coupons.
I went to a store in northeast PA Saturday morning. I had a coupon and needed something for my granddaughters birthday. Sadly, I looked and looked but came up with absolutely nothing! It's a small store so I might have had better luck at a larger one but this one was a bust! The store did look nice and clean. There was some foot traffic but nothing compared to the rest of the mall (It was a rainy, chilly day here). I bought some curtains for my home and was able to use my coupon. The sales girl said she 'feels' like things are picking up now that RJ is gone.
Of course it will never bring back the scores of people who lost their jobs under his reign but I do wish the new/old JCP well and I hope they are able to come back around.
Thank you Croll109 for the update. I too went to a JCP, this one at the Palisades Mall. Similar weather but there were a lot of shoppers. The store was in a weird location in that it was down an alley, off the main foot traffic area. So, people would have to walk over to it to see what was going on.
I must say, this store left a lot to be desired. The music was low, the atmosphere was sort of dead. The registers and traffic in teh women';s and shoe section were excellent. Registers always had a customer at them and often there was a line. Home Goods was built out but had little traffic. Same with men's and kids. There were a few shoppers but it was not a home run scenario.
I went to other stores. Only H&M had significantly more people in there. The line was very long. Macy's was having a sale. I would say they had more traffic than JCP, but it wasn't significantly more.
I spoke to two sales people at JCP and asked if biz had improved. The first one was completely certain it had. She said, over the last month it had picked up significantly. The other said yes, that it was busier.
Overall, not what I had witnessed the week before in Paramus. But it was definitely NOT a "going out of business" scenario. If this JCP is going out of business, than so is every store in that mall except H&M. It looked to be holding its own but not winning the battle.
So, a little disappointing but again, JCP just needs to improve revenue to go back to $30-$40 and that was happening here. I'm still bullish through $30 in the next few months as the foot traffic increase that everyone in the stores I visit confirm, over and over and over, every time I ask...hits the bottom line and the market moves against the significant short interest in the stock. Shorts are dead, unless they're out and waiting for the stock to spike up through $30 before thinking about getting back in.
chase, I agree with you. JCP will hit big. Shorts will be wiped out for sure. They have a lot to learn. The 17 millions loan that banks gave to them for a good reason that business will prevail. Ron Johnson has a lot of his personal money invested in JCP. I am in 25000 shares. My first trade of JCP back in 2011 that bought in high $27 and sold near $30. I am not surprised by your prediction.
Sentiment: Strong Buy