Inside look at J.C. Penney


The National Retail Federation chairman Stephen Sadove thinks J.C. Penney (JCP) is on the right track

Sadove is also a board member at JCP and is supposed to toe the company line, but his inside look at the board's mentality shows strong support for CEO Myron Ullman.

"There is no silver bullet in retail," admits Sandove. He thinks major initiatives including the home business will add value incrementally for the retailer.

Bloomberg interview (video)

JCP -0.5% premarket

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Comments (13)
  • Maggiejames1
    , contributor
    Comments (20) | Send Message
     
    Looks like sears may fold, which would benefit JCP.
    10 Jan 2014, 08:58 AM Reply Like
  • bebopr
    , contributor
    Comments (557) | Send Message
     
    Look for Sadove, one of the country's sharpest retail marketers, to become the Penney CEO sometime in 2014.
    10 Jan 2014, 10:26 AM Reply Like
  • Qniform
    , contributor
    Comments (4494) | Send Message
     
    I think you're right bebopr. The fact that it is Sadove speaking publically rather than Ullman is probably significant.
    10 Jan 2014, 10:46 AM Reply Like
  • Qniform
    , contributor
    Comments (4494) | Send Message
     
    Maybe not, now that I actually listen a few times I hear him saying "they" (about the company) a lot. No we.

     

    On the other hand, he's still blaming things on Johnson - and while that's pretty old it's what he would still be doing if he took over as CEO. Wouldn't change much.
    10 Jan 2014, 10:52 AM Reply Like
  • bebopr
    , contributor
    Comments (557) | Send Message
     
    Q....what do you mean by, "Wouldn't change much?"
    10 Jan 2014, 11:02 AM Reply Like
  • Qniform
    , contributor
    Comments (4494) | Send Message
     
    Well, he said all the same things as Ullman. RJ's fault, takes time to turn around, venerable brand name, etc. Everyone says JCP is such a supertanker to move around, but RJ didn't seem to have that problem... His results were pretty quickly visible and he was creating something really different - not simply restoring status quo.
    10 Jan 2014, 11:16 AM Reply Like
  • bebopr
    , contributor
    Comments (557) | Send Message
     
    Q: Hard to disagree with the reality of turning around a sinking ship, in this case caused by the faulty strategy of Johnson which resulted in moving too fast, resulting in alienating the Penney customer base thereby driving sales into the toilet.

     

    Stephen Sadove is a highly respected executive with superb retail chops. His background and experience can move Penney beyond stodginess toward a more exciting fashion forward operation but at a moderate pace in order to hold on to the traditional customer while attracting more of the fashion-oriented consumer. He can benefit greatly from Ron Johnson's mistakes.
    10 Jan 2014, 11:49 AM Reply Like
  • Dan H.
    , contributor
    Comments (17) | Send Message
     
    Seems like all Ron would have had to do is ask his customers before making the change in pricing strategy. Seems like investing in a survey would have save JCP a lot of money.
    13 Jan 2014, 12:00 AM Reply Like
  • 333JJ
    , contributor
    Comments (7) | Send Message
     
    I really hope JCP stays alive. Not willing to buy it right now though.
    10 Jan 2014, 10:35 AM Reply Like
  • ripolivia
    , contributor
    Comment (1) | Send Message
     
    Go jcp! You can do it!
    10 Jan 2014, 04:51 PM Reply Like
  • SA_Member_11523241
    , contributor
    Comments (83) | Send Message
     
    Most of us shop for products that add value and solve problems. The product is the silver bullet and the reason any retail business succeeds.
    10 Jan 2014, 10:37 PM Reply Like
  • Maggiejames1
    , contributor
    Comments (20) | Send Message
     
    I agree Sadove will be the next CEO with the experience he brings to JCP.
    The silence regarding Dec sales are backing off buyers of JCP stock, but at least the company has reinforced its guidance for the feb earnings release. If they want buyers of JCP stock, to at least check the massive shorting, it's on them to deliver at least better than expected earnings numbers in February. Otherwise, I do believe they are heading in the right direction getting people back in their stores. If I've spent too much time talking about their stock, it's because I am a long time holder.
    11 Jan 2014, 08:18 AM Reply Like
  • ldeaster
    , contributor
    Comments (87) | Send Message
     
    bebopr
    I really want to see your choice of this savior that will come in sometime 2014 and turn JCP taking the stock from the bottom to sales that surpasses the $1b mark in 1yr, and the stock going from what ever it is now to $150 mark in 6 months. This is what some of you same people said about the lady who is a marketing guru they hired last yr. good luck.
    14 Jan 2014, 02:52 PM Reply Like
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