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Credit Suisse thinks 2013 could be the year retailers rationalize their store base and place a...
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Friday, January 25, 11:13 AM ETCredit Suisse thinks 2013 could be the year retailers rationalize their store base and place a sharper focus on data and online channels over store transformation (think JCP). The firm likes Ross Stores (ROST -0.5%) and TJX Companies (TJX +0.2%) to keep up their winning ways and moves to a positive stance on Dillard's (DDS -0.3%).
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I work in a stand alone Home Store and I hear what you're saying. I've spent many years with this company and I've never, ever seen anything like this mess we have now.
Our store is empty...there has not been much inventory for months. What person runs a store out of inventory because he plans a big remodel in January or February or maybe March.....blows off an entire Christmas season, (so what ..... it's just the biggest event of the year in retail), only to change his mind, decide NOT to remodel but continue to plan to re-stock and re-brand the entire store-----sometime this spring. Maybe. Unless he changes his mind again.
Meanwhile back at the ranch....the customers are on a permanent hiatus. They think we are bug freaking crazy. Exit stage right for them.
We are like the monkey with his tail caught in a lawnmower. "Won't be long now," the monkey says.
James Cash Penney would die all over again. Change yes, but not like this.
A CEO who will not take no for an answer in terms of his marketing strategy to the point where it is being said he is having vendors inflate their regular prices to make his everyday low pricing look appetizing to the customer .
Mr Johnson like all CEOs are entitled to defending their leadership but not to the point of loosing everything in its' pursuit .
As a former associate I fear for my pension unlike at the CEO level (guaranteed pay off ) or that of Mr Akerman (who has already made a profit from his investment in JCP) I have too much to loose.
I would do anything to address the board and ask about their due diligence in terms of making sense of where the company is going. What was once their base customer has moved over to what was once their competition (Macy's/ Kohl's). The customer base they are now trying to attract are in the hands of retailers like HMM because JCPenney presented a price strategy without first establishing a fashion direction. Just as the beverage industry had to establish bottled water first as a fashion / health statement before it could add a price to it .
Ego should only be a part of the consumer's thinking and never that of the marketer or their marketing process.
I would give anything to address the board if only to save my pension and those of others who are at risk