My JCPenney blew it when they led Johnson to the door. Everybody knew the plan was to turnover our customer base and let the hagglers go elsewhere. It was a beautiful plan to save the JCPenney name and rid ourselves of the @#%&#.
I absolutely despise how we do business today under Ullman. There is fraud and confusion because of coupon sharing sites that post invalid coupons. These non JCPenney sponsered sites ask for your email address then spam the he11 out of you. Stores are inudated with smart phone wielding customers who freak out when the store won't take them.
Merchandise is back in the aisle, around the escalators. This is what you want? Not me. If Johnson was allowed to finish we were looking at trimming our store count. You don't need two JCPenney stores within 20 miles of each other when one is doing half the volume of the other. Many of these second stores were built to head off Kohl's. Reduce our head count by closing the smaller store and return the millions of dollars back to the bigger, better run JCPenney. Stop the cannibalism.
One of my biggest fears is we'll go back to trying to be everything to everybody! That is the #1 reason we have not been taken seriously as a bonafide trendy retailer. Too often we merchandise our stores like a General Merchandise store from the turn of the century. It's okay to tell a customer I'm sorry we no longer carry overalls.
Those looking for a turnaround should be interested to know that a business plan will be unveiled real soon. A always I'll give it my best to execute what's layed out to me but 'm telling you things need to be different on this the second go around for Ullman.
As almost everyone knows, I rarely agree with you. However, your idol - Ron John - blew it. His first move was to alienate the customer. Migrating the customer base should have been his last move. I do not fault his vision, per se, but his execution and arrogant reluctance to conduct any research were what ultimately did him in.
As for your statement: "One of my biggest fears is we'll go back to trying to be everything to everybody! That is the #1 reason we have not been taken seriously as a bonafide trendy retailer"...JCP has no focus. They cannot decide who they are and they cannot find a market niche that isn't already being served well by a competitor(s). It is like the game of musical chairs and for JCP the music has stopped and there is no chair left for them.
Granted, they hired Y&R which is a very good ad agency, but not a retail agency by any stretch of the imagination. They are also very expensive and are going to bill the company through the nose. JCP also has Sergio Zyman on board (the father of the New Coke fiasco)...so don't expect a new marketing plan to turn things around anytime soon.
I work in a store...at least 20 customers came to me within the last few weeks saying they are back because Ron Johnson was fired...how many customers have every known our the name of jcp ceo?
Ron wanted JCP to be a bloomingdale...lack of demographic study was the problem...lack of understanding what the customer wants...He understood Electronics not apparel...He wouldn't listen to those who understood.
we are not selling the products he brought in...Thank goodness Duro is gone...we are waiting for Bufflao, William Rast, Joe Fresh to go away because it doesn't sell and a waste of space.....that is just one more reason the company was failing...No studies, no demographics, blowing someone elses money and only an egotistic now failure as a Ceo....which almost lead an 11 2 year old company into bankrupts no different than what happened to the Service Merchandise back in the 70s...the ceo did the same think...
So either like the jcpenney now or get out...
Sentiment: Strong Buy
Pennyman, dont fret over the change. The liquidation sale will happen very soon. As I have stated before, this is the last Christmas for jcp as we know it. At best it will go through a bankruptcy and emerge as a very small shell of its once large scale. At worst, it will simply go away. I'm hoping for the worst !!