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J.C. Penney (JCP) investors should mark February 1st on their calendar as day one of the...

J.C. Penney (JCP) investors should mark February 1st on their calendar as day one of the retailer's transformation, according to CEO Ron Johnson. The exec says big sales gains and profits will start percolating in Q1 with the "adjustment period" finally over. Johnson on the 110-year old company: "We look at JCP as a start-up."
Comments (9)
  • Perkins Cove
    , contributor
    Comments (625) | Send Message
     
    I used to shop at JCP because I knew what to expect, ie a good selection of easy to find items, at a fair price. After my last visit to my local "transformed" store, I won't be going back.

     

    Sorry Mr. Johnson, you took 110 years of a good thing and turned it on its head. Sad.
    3 Oct 2012, 08:52 AM Reply Like
  • alx.botelho
    , contributor
    Comments (64) | Send Message
     
    take it private at $33-$35 per share...
    stop losing time with conference calls and spend it revamping the stores and reconnecting with customers... If Ackman is so sure JCP is worth $70 in a worst case scenario, he should put together a bid...
    3 Oct 2012, 09:12 AM Reply Like
  • mullman
    , contributor
    Comments (3) | Send Message
     
    Shouldn't be hard to have a "big" gain after having "Big" losses all this year. How many years will it take to get the billions in loss sales back?
    3 Oct 2012, 09:14 AM Reply Like
  • Don Quick
    , contributor
    Comments (7) | Send Message
     
    Buying time? Anybody else read The Emporor's New Clothes? (You would have been about six at the time.)
    3 Oct 2012, 09:18 AM Reply Like
  • Don Quick
    , contributor
    Comments (7) | Send Message
     
    Buying time?
    3 Oct 2012, 09:18 AM Reply Like
  • Gh0st
    , contributor
    Comments (16) | Send Message
     
    Fools Gold... Showing improvement on his horrible losses the previous ytd +21% losses... How does that show improvement? As quote by Davidowitz "Incalculable Damage"... He bet the company on this mall in the store model...
    3 Oct 2012, 10:17 AM Reply Like
  • gmom3
    , contributor
    Comments (132) | Send Message
     
    Sounds good to me. February first is marked on my calendar then. It is too early to be negative about what has happened so far in the "transformation" as there are still many pieces not in place yet. I look forward to the complete transformation. At this point, I make no judgements but I too am optimistic about the future being much brighter after a difficult and confusing past 9-10 months for customers, associates and investors.
    3 Oct 2012, 12:08 PM Reply Like
  • Bob Haller
    , contributor
    Comments (108) | Send Message
     
    Ron has made more changes, catalog orders will no longer go to the stores, they will only be shipped... the customer will now have to pay shipping, will this hurt or help sales?? another thing local stores are laying off most of their long term full time employees and replacing them with young part timers.

     

    its almost as if ron wants to kill penneys, so far he hasnt done a single thing i liked. My family had penneys stock, the next thing you know penneys will be in bankruptcy and the stock worthless
    9 Oct 2012, 11:05 AM Reply Like
  • gmom3
    , contributor
    Comments (132) | Send Message
     
    Bob: If you truly want jcp to succeed and help your family with their stock success, then it would help to stop being so publicly negative about the company. Changes are never easy for any one, but on these boards all the negative criticism has only bred more of the same. No matter what future changes happen to jcp, when people complain even before the changes have had a chance to work, it only hurts the company. What have you done to support the company? Do you secretly want the company to go bankrupt? Do you think when you and others continue spreading all sorts of negative PR about the company that that is going to help turn the store around? The company NEEDED to change in many ways for years now. Someone comes in with the guts to make changes (and his team has done their research and they know what they are doing), are willing to make adjustments when they find it isn't working and staying the course despite all the naysayers. When people think and act outside the box, those who lack that way of thinking/acting often react the way so many on these boards do.

     

    The other day some woman came up to us in the store and announced "You need to tell that CEO of yours that we have a lot of farmers living in this area" She felt that since we didn't carry a dark enough color of jeans that it was Mr. Ron's fault. That's why they have specialty stores like Rural King for "all those farmers". Besides, there are plenty of farmers who still shop and buy other kinds of jeans or the farmer who bought a thousand dollars worth of suits the other night. Maybe jcp had everything for everyone in years gone past, but I doubt it. Maybe the store doesn't carry a particular item anymore, but i would suspect with all the research retail companies have in their pocket, they know what merchandise is still a successful seller and worth keeping as options. I got the feeling from the wording she used that we got that this particular woman was parroting what she reads on these boards. Why else would anyone blame the CEO for a clothing option not available? That would be like my blaming the Steak N Shake CEO for not making a specialty shake offered this summer available all year long. If that specialty shake was so popular that sales went out the roof, I am sure they would.

     

    These large companies have to rely on what is selling/working or isn't to base their decisions. I see that happening at jcp in some things that have changed already since they were first implemented this year that weren't working. The company is listening to constructive criticism and comments. However, when it is being constantly condemned for just about everything before it has had a chance to work, that doesn't help.

     

    I am not sure what you can personally do at your local store to help that stock. Maybe answer the customer service survey and be honest if you got good service. Maybe go back in and take a good look at what is there and buy something without going in deciding before you go that you think the store is a failure. However, if more of the people who LIKE jcp and the changes (those are the ones who don't come on boards usually), speak up with their friends, neighbors and family, it will help the company. If you are content with badmouthing every change that comes about, then your family will get their just reward.

     

    I do not know Mr. Ron. I knew nothing about Apple before he came. I didn't know anything about him when he announced he was the new CEO of jcp I couldn't have told you who the CEO ever was at jcp ever. At least I know the one now. He keeps the associates informed of the changes and what will be going on soon in our stores. That never happened before with any CEO. I like his style of management and unlike you, I am willing to give the company the time it needs to turn itself around.
    10 Oct 2012, 12:25 PM Reply Like
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