JC Penny Bleeding nearly $200 Million a MONTH and STILL CLUELESS??

Morning Folks!!

Please read this story and see what is missing and what is misguided.

"Execs conceded that the much-heralded redesign of its home stores had not fared well, and had a negative impact on same-store sales. The retailer plans to restage those departments with a more balanced assortment of traditional and modern goods, including good, better and best price points. Some merchandise will also be arranged by category rather than brand."

As they continue to bleed and continue to "Regroup" for the umpteenth time, NOWHERE in the article does JC Penny say word one about their website business. Maybe instead of rearranging the damn furniture, they need to toss the furniture, forget the staging, close a bunch of stores and get in the black with an online strategy before it is too late.

Their lunch is being eaten by EVERYONE! Even Sears and they think moving the furniture around will save them?? REALLLLY?? That ain't the problem DUDES! Your problem is getting folks in the stores to begin with and more importantly, your online store. THAT is the challenge and they are fighting the wrong war. DUH! DUH! DUH!

I have not been inside a JC Penny's store in a decade. I walk thru Sears because it is the easiest place to park when I go to the mall which is not very often. Always spaces at the end! So I walk thru Sears never spending a Penny! (YUK). It's not cuz I don't like their furniture. Maybe I just don't like the outdated overpriced crap they sell and the lousy service. Ditto for Penny's.

Is it possible we are seeing collapse of a 111 year old company? Along with Sears, they represent the "Retail Boom" that happened to nearly parallel domaining just over 100 years ago. But while they enjoyed 100 years of glory, they keep reinventing themselves until there is nothing left to reinvent.

It's getting to the point that we are not talking about "Ifs'. We are now talking about "Whens". When will stores like this basically collapse? They are racing against the clock and history itself and have not even begun to get in control of their out of control business and market shares. A bad Christmas season could seal the deal. They may survive for a few more years, but they are on the decline and their futures are bleak. They are the "Nursing Homes" of retail as they continue to decline and become less relevant.

Just one mans opinion!

What does this have to do with domaining? Domaining is BUSINESS and if you don't understand BUSINESS then domaining is that much tougher for you to succeed. Some better choices in DOMAINS and a domain strategy may have been the life-preserver a company like this could have used to sustain itself and survive another century. Instead of rearranging the stupid furniture, maybe there was another choice not even on their radar.

Rick Schwartz


11 thoughts on “JC Penny Bleeding nearly $200 Million a MONTH and STILL CLUELESS??

  1. Jim Sickorez

    JC pennies is what’s going to be left shortly… They should be looking at CSN Stores which is now wayfarer.com who definitely get an online strategy…Thanks for sharing…

  2. Mark

    BTW ~ They own JCP.com which redirect to JCPENNEY.com. When they changed logo to new “JCP”, why they just don’t do opposite redirection and don’t use short JCP.com as they main domain name/site?

  3. BillW

    wayfarer.com is a PARKED page.

    I think you mean: wayfair.com,

    They are also the online fulfillment company for walmart.com online stores, among others.

  4. Owen Frager

    Meanwhile Apple is bleeding from the execs that jump shipped to JCP and are now unemployed growing beards in their beach houses- The average number of customers going to Apple stores each week has slipped. And so have the sales per square foot. Seems like an area desperately in need of leadership. Apple should hire them back

  5. underwearking@yahoo.com

    I bought some underwear from them in May online. It got here in 45 days, and of course I had ordered the wrong one (I was 50-50 to be right, and I was wrong). They have no chance online.

  6. UFO

    Its not hard to see why these large department style companies are getting nailed, its death by a million cuts from online traders with lower overheads and therefore lower costs.

  7. UFO

    Probably biggest statement for us domain owners is ‘Yesterdays businesses were based on footfall, todays businesses are based on eyeballs’.

    JC Penny would do well to look at UK retailer JohnLewis.com and their ability to rapidly adapt to the online game and late on in the piece.

  8. Rob Sequin

    Their only hope is to dramatically downsize and rebrand.

    Throw out the JCPenny brand and start over. That is their only hope.

    With Ackman selling his shares, there is no one left with a vision. His vision was wrong but at least he had a vision.

    JCP is like Apple under John Sculley.

  9. NEIL10005@YAHOO.COM

    Fair and Square: it is much easier for JCP to fire the North Korean CEO, then to find the real superpremium domains, like candy, diamond and dailyvideo.com.
    King, you are the visionary, keeping close to You, to see how…

  10. NEIL10005@YAHOO.COM

    JCP’s Story is like when register an old domain, without knowing what was there before.
    The schmuckx.com CEO was not a JCP lover…
    With my MBA or without, I can redevelop JCP like in old glorious days, 2001-5.
    I was a JCP lover…
    Is like me registering my domain M-a-r-r-y.com, born on 2006, and abandoned.
    Unimaginable daily targeted traffic, no further clicks.
    I do not know their target…I was not a m-a-r-r-y.com lover.
    I cannot setup the parking trap.No income.
    Just one mans opinion.


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