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J.C. Penney's (JCP -1.1%) new "mark-up to mark-down" tactic may be straight from Retail 101 but...

J.C. Penney's (JCP -1.1%) new "mark-up to mark-down" tactic may be straight from Retail 101 but it's a tough row to hoe for a company suffering +20% drops in sales, according to analysts. Is JCP making the transition smoothly? Eyes in the street note that items in stores are "awkwardly" displaying stickers over the older prices in an effort to cover them up.
Comments (15)
  • chopchop0
    , contributor
    Comments (3127) | Send Message
     
    Back again to the original strategy? Talk about a classic case of epic managerial incompetence.
    27 Mar 2013, 10:45 AM Reply Like
  • SoCalNative
    , contributor
    Comments (423) | Send Message
     
    What a mess.
    27 Mar 2013, 10:48 AM Reply Like
  • wyostocks
    , contributor
    Comments (7616) | Send Message
     
    What an insult to the customer. One can only hope the customers aren't that stupid.
    27 Mar 2013, 10:50 AM Reply Like
  • retailgirl
    , contributor
    Comments (123) | Send Message
     
    Well, the customer wants coupons again...right? We marked everything down so as not to have coupons. It stands to reason we must now mark things up to offer the old coupon scam to these women. THEY want it. THAT is all we hear --- bring back the coupons!!!

     

    Okay. Done.
    27 Mar 2013, 10:56 AM Reply Like
  • modanco
    , contributor
    Comments (36) | Send Message
     
    Ronnie & The Henchmen are sooooooooo smart and the customers are soooooooooo stupid and naive. This plan will surely work. Yeah right.
    27 Mar 2013, 11:05 AM Reply Like
  • Penneypal67
    , contributor
    Comments (12) | Send Message
     
    RJ has brought jcp further down than it was. He thought he could do as a job as he did with apple. Well apple is a whole different kind of retail. Let RJ go so the company can bring in someone who knows what real retail is. But it might be too late. Thanks RJ for bringing jcp down further than it was.
    27 Mar 2013, 01:01 PM Reply Like
  • Yokyok
    , contributor
    Comments (325) | Send Message
     
    just fire that moron already
    27 Mar 2013, 01:05 PM Reply Like
  • user1189
    , contributor
    Comments (6) | Send Message
     
    I sure hope jcp survives...I have many friends who still work there and are constantly looking over their shoulder to see if they will still have a job the next day. It has been one blunder, after another blunder, after another...question is, how many blunders can they afford to endure financially?
    27 Mar 2013, 01:34 PM Reply Like
  • davidbdc
    , contributor
    Comments (3141) | Send Message
     
    Seriously??

     

    I haven't run any retail operation larger than my own small businesses and I could have done a better job for JCP!

     

    At our closest JCP there is still no "store within a store" or whatever this big thing is supposed to be. Just the same tired layout that they've had for the past 20+ years. Staff that is mediocre at best and "disinterested" would probably be the right description.

     

    I don't see how this guy can still be the CEO. I understand saying your totally changing your strategy and things will hurt for a while - ok - but then after you hurt for a while you undo the whole thing??? For what purpose?

     

    Get rid of him and hire someone that actually knows clothes retailing and pray.
    27 Mar 2013, 01:34 PM Reply Like
  • Mooredynamic
    , contributor
    Comments (3) | Send Message
     
    Perhaps they could have left the prices as they were and offered coupons on top of the already low price... I.e. buy $30.00 save 5%. Or maybe JC Penney's cash -- spend $50.00 get $10.00 in JC Penney's cash. A lot of people like that kind of stuff. After a while as inventory turned over they could raise their prices as not to have to re sticker everything and make it look like a mess.
    27 Mar 2013, 01:35 PM Reply Like
  • karmike
    , contributor
    Comments (190) | Send Message
     
    Remember all those Ellen commercials talking about how stupid you were to have been falling for the old mark up to mark down sales pitch? As Forest Gumps Mother used to say "stupid is as stupid does"...... Will the last customer, or Ron Johnson, whichever has the guts to be the last to leave JCP, please turn out the lights?
    27 Mar 2013, 02:54 PM Reply Like
  • Transcripts&10-K's
    , contributor
    Comments (682) | Send Message
     
    Love the comments about scamming people, insult to customers, etc - you mean the same pricing strategy offered at all other department stores?

     

    Continued JCP beatdown by the press - for returning to a practice that's the status quo in the industry...
    27 Mar 2013, 03:15 PM Reply Like
  • petten
    , contributor
    Comments (128) | Send Message
     
    Fire Ron Johnson, and have a restart.
    27 Mar 2013, 03:33 PM Reply Like
  • KnowsALot
    , contributor
    Comments (35) | Send Message
     
    JCP is now the largest 'cluster' I have ever seen.
    The the 'funny' thing about it... they paid RJ 10's of million$ to do it!
    God Bless America!
    Where are all those "RJ is on the right path all you have to do is patience' people now?
    It appears we haven't been improperly 'crying wolf' this past year.
    Hmmmmm...
    28 Mar 2013, 06:39 AM Reply Like
  • countrydweller
    , contributor
    Comments (22) | Send Message
     
    the store i work at is hiring a crew for two weeks to mark up everything while cutting back the regular staff to 4 hour shifts a lot of days. Nothing says "we value you as an employee" like a 4 hour shift. At least we will be spared some of the chaos of our remodel which is happening all at once instead of stages leaving us with the majority of our housewares, lamps, window coverings in the stockroom where it can not be shopped at all, leaving many customers irate and disgusted with us.
    31 Mar 2013, 08:14 AM Reply Like
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