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KnowsALot

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  • J.C. Penney closing 33 stores, cutting 2K jobs; shares +0.9% AH [View news story]
    Thanks Ron!
    Enjoy your millions!
    Jan 15, 2014. 04:46 PM | Likes Like |Link to Comment
  • Dark clouds over J.C. Penney [View news story]
    I think I hear Frank singing... "And now, the end is near..."
    Sep 24, 2013. 03:08 PM | 4 Likes Like |Link to Comment
  • J.C. Penney (JCP -3.1%) posts a video on YouTube (video) in which the retailer mournfully apologizes for its mistakes and asks customers to come back. Of note, it appears the company is moving away from using the JCP monicker in the post-Ron Johnson era. [View news story]
    And there will be a prayer service everynight at Ellen's house starting at 6:30.
    May 1, 2013. 02:56 PM | Likes Like |Link to Comment
  • J.C. Penney (JCP) has reportedly engaged Goldman Sachs and JPMorgan to explore a deal to raise at least $1B by pledging land assets as collateral. Maybe more likely is a $500M loan secured by the company's inventory - this one supposedly led by Wells Fargo. "It would seem to me that at all costs they will postpone putting any kind of lien on their real estate," says a corporate restructuring attorney. [View news story]
    And all this mess was created by Ron Johnson's 'vision'.
    Why hasn't the board been FIRED... afterall didn't they condone his actions?
    Apr 19, 2013. 08:56 AM | 3 Likes Like |Link to Comment
  • Three former Apple executives who were hired by ousted J.C. Penney (JCP) CEO Ron Johnson have reportedly left the department store company. The departures are COO Mike Kramer, who received a compensation package of $33.4M when he joined JCP, Chief Talent Officer Daniel Walker, who got $20.2M, and Chief Creative Officer Mike Fisher. [View news story]
    If I don't perform in my job, I get fired with maybe 2 weeks severance.
    They don't perform in the most public of settings, and they leave with millions!
    What a country!
    Apr 11, 2013. 08:54 AM | 3 Likes Like |Link to Comment
  • J.C. Penney: Ron Johnson's Mistake Was Fair And Square Pricing [View article]
    Hello??? Hwere are all those RJ supporters now.
    RJ believed all of his own press and thought he could 'do no wrong'.
    WRONG!!
    Apr 9, 2013. 08:44 AM | 1 Like Like |Link to Comment
  • The emergency plan: If J.C. Penney (JCP) loses its courtroom battle to sell Martha Stewart home goods inside of its stores, the retailer will reportedly look to Asian suppliers to produce an emergency line of private label bath products, bed linens and kitchenware to fill the void. The trick is that production could take 75 to 90 days and the company would have to takes losses on quite a bit of inventory. [View news story]
    I'm constantly surprised at the # of the RJ's defenders. Let's get real people! His 'grand plan' lacks TOTAL VISION.
    Apr 8, 2013. 09:46 AM | 3 Likes Like |Link to Comment
  • In an interesting twist, J.C. Penney (JCP) CEO Ron Johnson took longtime critic (and former CEO) Allen Questrom on a tour of a prototype store in Dallas last week in an effort to show the him the futuristic shop-in-shop look the retailer plans. Questrom hasn't comment publicly yet if his opinion of the retailer has been altered. Shares of JCP are a rare sight, adding 2.2% as the broad market capitulates. [View news story]
    So? They won't survive long enough to see it.
    Apr 5, 2013. 10:00 AM | Likes Like |Link to Comment
  • This week will see J.C. Penney (JCP) open its new home goods section at 500 of its stores in a launch seen as vital to restoring confidence in the retailer. The category has slumped dramatically for J.C. Penney in recent years as competition has increased on the high-end (Williams-Sonoma) and low-end (T.J. Maxx). [View news story]
    Why doesn't JCP just dig a hole and put their collective heads in it?
    Apr 1, 2013. 09:56 AM | 1 Like Like |Link to Comment
  • 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. [View news story]
    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...
    Mar 28, 2013. 06:39 AM | 1 Like Like |Link to Comment
  • J.C. Penney (JCP) has resumed its strategy of initially putting high prices on its own-brand products and then discounting them after its attempts to implement an "everyday low price" policy turned into a disaster. JCP CEO Ron Johnson said in February that the department store would go back to using discounts as part of an attempt to turn the company around. [View news story]
    The following is painfully evident:
    1. RJ was WRONG. Very WRONG.
    2. RJ is a liar. Evident by what he's doing now.
    3. RJ ruined 1000's of careers.
    4. RJ was NEVER the retail 'maven' he was talked up to be. That was Steve Jobs...
    Other than that he's a nice guy...
    Mar 27, 2013. 10:38 AM | 1 Like Like |Link to Comment
  • BMO Capital takes its rating on J.C. Penney (JCP -1.1%) down to Underperform from Market Perform with the retailer's cash position a primary concern. Last quarter, the company missed its target for free cash flow even with its account payable getting stretched out. [View news story]
    While watching CBS on Sunday night, I saw an JCP TV spot for an Easter SALE.
    I have never seen the word SALE so large in relationship to the other letters on the screen.
    They were apparently offering an additional 20% off their "Fair & Square' everyday prices.
    So much for 'Fair & Square"... eh Ron?
    Mar 25, 2013. 01:36 PM | 1 Like Like |Link to Comment
  • J.C. Penney (JCP) ended its fiscal year on February 2 with 116K employees, according to a SEC filing. The figure is a bit of a curiosity because it marks a reduction of 43K employees during the year, more than twice the job cuts CEO Ron Johnson testified on. The discrepancy may be in how seasonal workers are counted by the retailer. (10-K[View news story]
    Good words, Mike.
    As a proud former JCP associate as well, it is so sad to see what has happened here.
    All the best to you & your family.
    Mar 21, 2013. 03:34 PM | Likes Like |Link to Comment
  • J.C. Penney (JCP) ended its fiscal year on February 2 with 116K employees, according to a SEC filing. The figure is a bit of a curiosity because it marks a reduction of 43K employees during the year, more than twice the job cuts CEO Ron Johnson testified on. The discrepancy may be in how seasonal workers are counted by the retailer. (10-K[View news story]
    John- EXCELLENT POINTS!
    People... stop drinking the RJ "KoolAid"!
    FINALLY more & MORE people are becoming wise to his lack of leadership & true lack of retail promoting ideas.
    He's now a Harvard Business School Case Study.
    Congrats RJ for making JCP into America's no-so-favorite store!
    Mar 21, 2013. 03:32 PM | 1 Like Like |Link to Comment
  • J.C. Penney (JCP) ended its fiscal year on February 2 with 116K employees, according to a SEC filing. The figure is a bit of a curiosity because it marks a reduction of 43K employees during the year, more than twice the job cuts CEO Ron Johnson testified on. The discrepancy may be in how seasonal workers are counted by the retailer. (10-K[View news story]
    You don't... except in the 'fantasy' world of Ron Johnson!
    Mar 21, 2013. 09:04 AM | Likes Like |Link to Comment
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