J.C. Penney resurrects the word "sale"

Scott Olson/Getty Images

(AP) NEW YORK - J.C. Penney Co. (JCP) decided to resurrect the word "sale" during its monthlong events.

The new CEO of of Plano-based Penney - Ron Johnson - made the announcement to analysts as the retail chain seeks to halt a drop in customer counts and sales.

Investors were spooked even more, driving shares down 4 percent Tuesday. That extended a decline seen since early February when analysts starting becoming bearish about the new pricing plan that went into effect at the start of that month.

Penney has been using a three-tier pricing plan that offers everyday prices, monthlong discounts on select items and Best Fridays, which are clearance events.

But Penney had been avoiding the use of the word "sale."

Some shoppers were confused.

[happyman70Biloxi]

The flyers we get in our newspaper are silly - a page with five girls posturing in teenage clothes, etc. They aren't worth opening, go straight to recycling. Is the new CEO hoping to turn Penneys into a Rodeo Drive boutique? Penneys has always been a middle class family store with good values. Get rid of this idiot and go back to sales, coupons, and good deals and I'll go back to shopping there.

[ywalton]

Why doesn't JCP give their employees a much needed deal, instead of taking away all their commissions? That's not how you invest in your workforce to provide good customer service: Sign here to tell their shareholders that valuing your employees is key to success: http://chn.ge/Kx7XGp

[davidzbridger]

There may soon come a time when clipping coupons out of the Sunday circular is a distant memory. The problem with coupons has always been the hassle. You have to happen to find a coupon you want and then clip and save it. The solution to that is ********** and other deal websites.

[AppleCritter]

JC Penney Schadenfreude Sale

The last paycheck arrives on Friday,
I'll be in New Orleans investing it.

Monday's the day,
I sign on the line
To receive my JC Penney Valentine,
Severance pay for all the good times.

And, with time served,
I'm a Gold Card Retiree!

Since flying to Plano
To take over JC Penney
On his Gulfstream/G5
Ron Johnson has proven to be
The ultimate Black Swan

He cut the dividend.
And JC Penney bonds
Are now officially JUNK

Now he's having five promotional "events":
Memorial Day; Back to School; Black Friday;
Christmas; Kwanza; and Chanukah.
Total: Six. Confused?
What are the customers thinking!

After months of educating JCP customers
That there is no such thing as a "sale",
RonJohn has thrown in the towel
And uttered the word: "See below"

If "sales" do fail
BlackSwan RonJohn
The "Genius" of retail
Has but two gimmicks left
Coupons and Chapter 11

JC Penney's Ron Johnson Capitulates, Uses Word "Sale"

http://www.benzinga.com/trading-ideas/long-ideas/12/06/2648175/jc-penneys-ron-johnson-capitulates-uses-word-sale

[hellocathy]

Used to hate all those Penney's ads and coupons but they at least got me into the store. Since their new campaign I haven't bought anything. I live in a town where Penney's is the only real department store. Just sending one ten dollar coupon a mont to credit card holders or including one in a print ad would probably help. The first and third Friday "extra sale" is nonsensical. Friday is not a day lots of people can shop and the floating first and third is something people aren't usually planning for when you shop.

[mttrailboss01]

As long, as JCPenney CEO Ron Johnson is there, I will NOT be entered any store or buying online merchandise. I strongly believe, that the new Ron Johnson 'sales and marketing' campaign is a flop and he is running off loyal JCPenney customers' to the competition, in droves. It's not the customers' that do not understand the new 'sales and marketing' campaign, it is CEO Ron Johnson that doesn't understand the customers'. As JCPenney stock price per share keeps dropping, the 'Board of Directors' should take a closer look at CEO Ron Johnson and what he is doing to keep loyal customers' from going to the competition. So far.., he is not doing a very good job and has said, that it will take years to turn-around JCPenney. JCPenney does NOT have years to recover. It's time for CEO Ron Johnson to go, before the hole gets even deeper for JCPenney and it's customers', and employees'. Mike in Montana

[baileycccc]

It's over, "The Internet killed the Retail Star".

[Valhalla0907]

I'm in Kentucky. There is a small JC Penney Outlet a couple of counties over, otherwise I have to haul over to Louisville or Lexington. I'd love to shop Penney's or Target. What I've got is WalMart and Dollar General.

[smittyc]

Really does not matter what they do, they are facing a national boycott. JC Penny is finding out that people vote with their feet.

[mhoward5]

They lost me. I am part of that national boycott.

[addict42]

The comments on this page range from rampant homophobia to faux nostalgia. Face it, as the middle class is destroyed, the masses will shop at Wal-Mart and Target(for the tad upscale 99%)and the 1 percent will have Saks, Neimans, Bloomies, and Nordstrom. The way the GOP intended it. Good luck.

[MegaProcrastination]

No. We poor people don't shop at Target because they sell the same exact garbage WalMart does but charges twice the price. Sure, they have their own line of clothing but again, all made in China or some other foreign country. I wish for once people would open their eyes and see what is going on in retail.