And I wouldn't argue with you on any specific
point. Look, I am long JCP (much to my chagrin). This
year I was stopped out once at 42.5. Then I rebought
under 37, and if I had let my stop take me out, I would
not be so blue today. But I thought I was smarter
than the market, which is always a mistake.
agree that JCP is undervalued. Unfortunately, my policy
is NEVER, NEVER, NEVER average down. I would average
up if JCP bottomed and started moving
Your argument about population trends is valid. BUT,
the drugstore business is a difficult one, fraught
with danger. Rite Aid and Pharmor are failures, WAG
and CVS I think are trading at unreasonable levels.
It is not a nobrainer, open up the doors and make
money. Third party scripts, others selling outfront
merchandise cheaper -- these are drags on profits. So
management has to be VERY good.
Is Eckerds? I don't
know. I was confident that Thrift WAS.
one other thing. I PRAY that there NEVER is
government subsidized medicine to everyone (at any age).
Free markets produce opportunities and profits.
Government programs promote waste and fraud (on a good day),
with higher taxes. We have enough government
Have to go, can talk (much) later to any
Any store can tell you it's sales by hour for the
day. What is so incredible about that. Even more
icredible is it can tell you to the minute what your
markdowns are to the sub level. Even more incredible is
that misrung sales can be corrected same day on-line.
JCP is not necessarily the dinosaur you think it is.
Actually we are hard working folks out here trying to
implement the company plan as best we can and still stay
Of course, the initial reaction could justifiably
be, "Well, duh."
But more and more it looks
like JCP as a RETAILER is DEAD. The focus shift should
be ecommerceslashdrugstores, but if Plano has
destroyed the retail end, what confidence can ANYONE have
that they possess the vision to move the company into
the 21st century?
Yes....Sears 10% off sale hurt us as well....also local dept store ran an insert with "50% off red tag" They were PACKED!. One assoc. got a Liz skirt for $7.99. Also, no radio this year hurt....