A lot of hispanics shop at JC penny and are highly catholic. They refuse to support gay marriage and so do a lot of other Christians. That may explain the sharp drop in sales during the most recent presidential election to now.
I'm a political scientist who also studied economics. I study social groups and try to find correlations between economic events and social events... Not many people talk of the effect of JCP "Openly" supporting a homosexual cause at a highly polarized time.
Anyone ever heard of the million moms pro family group. They had a boycott on JCP. It correlates with sudden drop in sales, so JCP had to make up for the significant loss in sales by raising prices.
I have been a JCP customer all my life but no more, They went into pricey clothing for the younger crowd and that was it for me and a lot of customers that I know. They lost us and we will never come back just like sears.
Really? So if your argument is correct, a country going through gay marriage across the board, soldiers allowed to marry and so forth, then the US should be facing its ruin the near future.
Furthermore, countries like Canada, the Netherlands, and Sweden shouldn't have some of the highest standards of living and lesser poverty rates because they are open to homosexual endeavors.
JCP's dire finances and conditions are due more to stiff competition and lack of transformation.
A lot of JC Penny customers are pro family, pro traditional marriage. One of my parents, who spends thousands of dollars a year there, stopped shopping at JCP as a protest for "openly" supporting the gay marriage movement. BTW I've never heard of a homosexual doing their shopping at JCP, because they generally buy designer clothing.
I'm here to make money either shorting or going long just like everyone else here. Ethnicity or sexual orientation has nothing to do with my financial decisions. The reason for the disaster is due to management miscalculations and making the wrong moves by trying to remain somewhat traditional while modern big box retail marches past them. Your statement bears no credibility on Wall street.
Well, boy do I feel ignorant. All this time, I thought it was because JCP dumped the merchandise that their loyal customers loved, and brought in freaky West coast styles for Apple fanboys....plus no sales and no coupons. Of course--it had to be the gay-friendly policies, and not EVERYTHING ELSE that spelled disaster.