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(Slate)   Will a sale help Penney's?   (slate.com) divider line 34
    More: Interesting, J.C. Penney, Sephora, TPM Media, KitchenAid, Star City, discounts  
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1791 clicks; posted to Business » on 07 Jul 2013 at 2:44 PM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



34 Comments   (+0 »)
   
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2013-07-07 02:11:59 PM  
media.cinemasquid.com
 
2013-07-07 02:46:31 PM  
Done in one.
 
2013-07-07 02:51:20 PM  
I got a $50 gift card for Penney's about a year ago. Looked all through the store and their website, could not find a SINGLE thing I wanted anywhere near that price.
Store is famous for overpriced, useless junk.
 
2013-07-07 03:05:44 PM  
There's a sale at Penney's?
 
2013-07-07 03:20:16 PM  
Johnny, what can you make of this?
 
2013-07-07 03:26:13 PM  
teh JC refers to Jesus Christ.  and Penney refers to how much money he had.  not much
 
2013-07-07 03:33:26 PM  
I have been in once since they reverted to the normal sale model.

Farking hated it. Stuff was steeply marked up from what it had been previously, and then the 'half off' sale price was still higher than what the original 'square deal' pricing had been.

Not going back anytime soon after seeing that first hand.
 
2013-07-07 03:36:51 PM  
How to kill a brand.
Did venture capitalists buy the place or what?
 
2013-07-07 03:39:01 PM  

VvonderJesus: Johnny, what can you make of this?



A Brooch, a hat, a pterodactyl...
api.ning.com

/but yeah, done in one.
 
2013-07-07 04:09:43 PM  
I snapped this JCP pic just yesterday to use with my 5-star online review. Everything's fine at the Apache Plaza location in St. Anthony, MN. Yep, just fine.

www.surroundedbyreality.com

The Pope of Manwich Village owns shares of J.C. Penney Company, Inc.
 
2013-07-07 04:12:24 PM  
Judging the rebound of JCP by a store in one of the most heavily foot-trafficked areas in the country (if not the world) is really, really, stupid. The stock analysts who cover retail stores never check out the Manhattan locations of almost any chain. They go to Jersey or Queens and visit the stores there, because Manhattan is a very unique beast.

I will also say that the JC Penney buttondown wrinkle-free, Almost totally stain-free shirts are awesome. On sale they are $20 or so but even at regular price all it takes is a spill of coffee to make the shirts worth it.
 
2013-07-07 04:17:15 PM  

flaminio: Done in one.

 
2013-07-07 04:47:24 PM  
That one-year CEO-ship will be written about for decades as a complete failure.
 
2013-07-07 04:54:05 PM  

JohnAnnArbor: That one-year CEO-ship will be written about for decades as a complete failure.


And he'll still get an eight-figure golden parachute.
 
2013-07-07 04:54:58 PM  
Albertsons grocery stores in my area are now starting not having sales, but everyday low prices. Some prices are okay, but other store sale prices are lower than theirs. They must not have got that memo from JC Penny.
 
2013-07-07 05:24:04 PM  
Technically, done in zero. Everyone got the joke in the headline. No need to reinforce.

/That Guy
 
2013-07-07 05:26:42 PM  

wiseolddude: Albertsons grocery stores in my area are now starting not having sales, but everyday low prices. Some prices are okay, but other store sale prices are lower than theirs. They must not have got that memo from JC Penny.


Groceries are a whole separate beast because your products (mostly) all come from separate distributors on separate schedules, each with their own expiration date, so frequently sales really are at a loss just to manage inventory
 
2013-07-07 05:28:14 PM  
Went in to JCP get some khaki pants for work this week and was quite happy with what I found.
BOGO on Dockers.
Clearance on tons of cool stuff like Nike and Adidas shorts, sweats, and hoodies. Plenty were marked down from $55 to $1.49.
Saved an additional 20% by using my JCP card.
Obviously it was all about making space for new merch, but it was enough to make me want to check back next month to see what else they need to clear out to make room for new stuff.

/ Spent an additional $45 on shoes that weren't on sale while I was loading up on sale stuff.

//$330 worth of kick ass hoodies for $9, I'll splurge a little on shoes.

/// Yeah, I know it only cost Nike $1.10 to make them
 
2013-07-07 05:47:12 PM  
A company tried to make their pricing model more transparent and less capricious. We met them with ridicule and reduced patronage. I'm not sure JC Penney is the party that should be feeling dumb here, at least not until they backed down.
 
2013-07-07 06:00:53 PM  

Lamadin: I got a $50 gift card for Penney's about a year ago. Looked all through the store and their website, could not find a SINGLE thing I wanted anywhere near that price.
Store is famous for overpriced, useless junk.


Are you a guy? The JCP line had a great OCBD for around $20 before they screwed up their pricing again. The JCP dress pants were also stylish and cheap.
 
2013-07-07 06:02:25 PM  

JohnAnnArbor: That one-year CEO-ship will be written about for decades as a complete failure.


JCP had a choice they could try and save the store and possibly fail miserably or they could go back to their old way and die a slow death. They chose to linger around awhile before going the way of montgomery ward
 
2013-07-07 06:10:14 PM  
It is vital, for me, that JCP and their Foundry stores stay afloats. It's the only place I can get B&T with value for money.

The alternative is Casual Male, and they have scumbag tactics to make you think $50 for house brand pants is a good thing (because it's not the $200 pair with a name on them that should be $89 if they weren't trying to make you buy $20 pants for $50.)

And all you farkers that think having 5X shirts means you can call it a B&T section.... That's not tall. It's just fat. And over the past decade I've had increasing difficulty because while I represent 2.4% of the American market, people over 6'3" represent less than 1% of the global market because business farks think that they have to include China and India in their same product lines.
 
2013-07-07 06:17:14 PM  

profplump: A company tried to make their pricing model more transparent and less capricious. We met them with ridicule and reduced patronage. I'm not sure JC Penney is the party that should be feeling dumb here, at least not until they backed down.




People love to save money, even if it costs them a little bit extra.
 
2013-07-07 07:24:00 PM  

profplump: A company tried to make their pricing model more transparent and less capricious. We met them with ridicule and reduced patronage. I'm not sure JC Penney is the party that should be feeling dumb here, at least not until they backed down.


pretty much this. the last time I bought Levis jeans, JC Penny's regular price was lower than the sale prices at both Macy's and the Levis store. New Balance sneakers were less expensive at JC Penny than DSW.
 
2013-07-07 07:43:01 PM  

profplump: A company tried to make their pricing model more transparent and less capricious. We met them with ridicule and reduced patronage. I'm not sure JC Penney is the party that should be feeling dumb here, at least not until they backed down.


A lot of customers buy things because they're on sale. I'm not saying it's right or smart but that's apparently how it is.
 
2013-07-07 07:54:34 PM  
I used to buy all my clothes from their clearance section of the website.  Good polo shirts for like 8-11$. Then they did this remodel thing and now everything is jacked up by 40%.  Gotta find a new place for cheap clothes...
 
2013-07-07 09:46:58 PM  

msupf: I have been in once since they reverted to the normal sale model.

Farking hated it. Stuff was steeply marked up from what it had been previously, and then the 'half off' sale price was still higher than what the original 'square deal' pricing had been.

Not going back anytime soon after seeing that first hand.


That's kind of how all the clothing stores do it.  They tried the "we're just going to sell it cheap" thing but people want the illusion of saving money.
 
2013-07-07 10:04:10 PM  

oukewldave: I used to buy all my clothes from their clearance section of the website.  Good polo shirts for like 8-11$. Then they did this remodel thing and now everything is jacked up by 40%.  Gotta find a new place for cheap clothes...


Kohl's.  Almost everything's always on sale, and you can get a scratcher coupon at the register good for at least 15% more off that price.
 
2013-07-07 10:42:42 PM  
And to think that there was just an air disaster yesterday,... It looks like a picked the wrong week to quit sniffing glue!
 
2013-07-07 10:43:00 PM  
Stupid ass customers.  I never consciously look at a % off sign or retail price at a clothing store.  I look at the selling price and base my decision off that.
 
2013-07-07 11:30:00 PM  
Is Leon getting larger?
 
2013-07-08 02:57:37 AM  

12349876: Stupid ass customers.  I never consciously look at a % off sign or retail price at a clothing store.  I look at the selling price and base my decision off that.


Same here.  I have a price comparison app on my smartphone that I use to check prices.  The app has almost recouped the cost of the smartphone running it over the years.

By my late 20s, I figured out that most sales were scams.  Going out of business sales are the worst.  There are a few sales that will save you money if you know how to work them, but often times it takes an investment in time (like getting your mail-in-rebate letter certified down at the post office) that may not make it worth it.

Everyday low prices were awesome.  But many people are wired for the "reward" factor that they feel when they "save" because of a sale.  You can't go against the herd.
 
2013-07-08 11:42:10 AM  

Dinjiin: By my late 20s, I figured out that most sales were scams.


When I was young, I worked retail. If an item cost us $10, we'd put it out for a few weeks at $40, knowing that no one would buy it. Then we'd mark it 20% off, and the suckers would line up for them. You can be sure that if we just put the items out for $32 and be done with it, no one would buy them. Some people just need the "sale" to justify the purchase.

Starting with an unreasonably high initial price also allows the store to go all the way to 70% off and still make a profit.
 
2013-07-08 10:27:34 PM  
I love JCP because the clothes are actually a good value, and they have a good selection.  Better quality than Target clothes, and the store doesn't feel 'junky' like Kohl's or Shopko.  I was dismayed by the changes.  I went there today and found what I wanted at a good price.  They hadn't done anything to 'change it back' at this location, but I live in Nebraska and I'm sure we're not on the top of their list.
 
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