I miss the days of 9017's and dept merchandisers in control of their AOR's but some of the street urchins and hillbilly hick hires ruined it for the masses. Wearing plaid pants, a red shirt and a wide tie should have been a clue. Thanks dude from Arkansas.
When your main merchant places more emphasis on how many you own verses what you own guess what? Style points are out the window. What woman wants to see her dress on another? What young shopper wants to shop with their mother? You'll never get new blood through the door and you don't age gracefully. If you want to be known as the place you can count on to always have " tightie whities" and Alfred Dunner polyester pants you will not survive. Reason: because it comes down to price and price alone.
Why do high end retailers do well even in tough times? Style. Why have luxury car sales continue to rise? Style. Those that separate themselves by offering an unique evolving product thrive. Suppose Apple didn't come out with updates / versions of it's products every 6 months and just lowered it's retail price. They'd be Blackberry.
It's long been known that it's only when a once a respected brand / label has jumped the shark, peaked, will they sell to JCPenney. For quite sometime we've been the final resting grounds for many brands that were dumped by high end retailers. For years this worked till competition caught up. Now it's back to price wars again. No style.
Johnson was on mark. Innovative. And sadly clearly not JCPenney material. JCPenney will compete on price this holiday season. Oh yeah we will. When you open that Black Friday preprint I'm sure you'll go WOW! They'll be a mad scramble to stackouts that don't turn a profit.
Lack of innovation in a competitive market = 3qtr results
85,you are a wise man and understand this retail space well.. You are spot on as to what the next 9 weeks will play out for JCP. Unprofitable sales by cherry picking value shoppers.
They go under after Xmas