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Started By
Message
JC Penney shuttering 140 stores
Posted on 2/24/17 at 11:49 am
Posted on 2/24/17 at 11:49 am
quote:
JCPenney joins a list of traditional retailers scaling back brick-and-mortar stores. Sears Holdings, which includes the Sears and Kmart brands, announced plans to close 150 stores last month, and Macy's is closing 68 stores and cutting 10,000 jobs.
The Limited closed its remaining stores last month, and American Apparel, which filed for bankruptcy for a second time last year, is expected to close all its stores. Sports Authority went out of business following a bankruptcy filing last year.
quote:
By contrast, Amazon expects to hire 100,000 U.S. workers this year as it continues to expand.
Amazon doin work
6
Posted on 2/24/17 at 1:09 pm to TejasHorn
honestly, i can walk around a department store for an hour and not find anything i want to buy.
Five minutes on a website and i can have a cart filled with $300 of clothes with the quickness.
Five minutes on a website and i can have a cart filled with $300 of clothes with the quickness.
Posted on 2/24/17 at 1:43 pm to TejasHorn
I honestly thought they went out of business a decade ago, either I don't get to the mall very often, or their advertising failed miserably.
Posted on 2/24/17 at 2:51 pm to TejasHorn
I hit up the local JCP and Kohls occasionally when we get a good coupon, or to look through the clearance racks.
Otherwise, the vast majority of my non-suit clothes come from Dillards Clearance Center.
Otherwise, the vast majority of my non-suit clothes come from Dillards Clearance Center.
Posted on 2/25/17 at 7:02 am to TejasHorn
Wow. I don't know why I say wow but it is.
Things will be very different.
Things will be very different.
Posted on 2/25/17 at 1:42 pm to TejasHorn
I bet the JCP at Cortana will be on this list
Posted on 2/25/17 at 3:11 pm to TejasHorn
I had friends who worked on case studies for JC Penney. They'd use internal data to propose solutions. At best there were strategies to slow the death spiral, but there was no way to stop it. The market had moved on, and JC Penney would eventually die.
Posted on 2/25/17 at 4:53 pm to Lima Whiskey
Jcp gonna Montgomery ward
Posted on 2/25/17 at 7:33 pm to Jorts R Us
I know people working there and have had recruiters reach out to me with opportunities. Needless to say, I'm not touching a dying business model.
Even the best retail stores (e.g., Nordstrom) are struggling. We will always have B&M stores but we need far fewer than exist today.
Even the best retail stores (e.g., Nordstrom) are struggling. We will always have B&M stores but we need far fewer than exist today.
Posted on 2/25/17 at 10:17 pm to lynxcat
Well that's the key, find the right amount of stores to keep open in the right markets while continuing to boost and support their e-strategy.
The days of having 1200 stores are gone but I see no reason jcp cannot be very profitable with 500 stores.
The days of having 1200 stores are gone but I see no reason jcp cannot be very profitable with 500 stores.
Posted on 2/26/17 at 10:29 am to hiltacular
Exactly. The company may be less profitable than the past but it can still be a solid business at a smaller scale. The trouble is that a public company gets hammered for not growing.
Posted on 2/26/17 at 10:41 am to lynxcat
Brick and mortar retail i struggling in general but the concept of the department store is just an outdated and unnecessary business model.
I think the luxury ones such as Nordstrams need to double down on the service aspect, its all that seperates them now.
I think the luxury ones such as Nordstrams need to double down on the service aspect, its all that seperates them now.
Posted on 2/27/17 at 4:45 pm to hiltacular
Part of the problem in retail is their e-commerce strategy is not linked to their store strategy.
It should be a seamless experience.
If I buy a shirt online and it turns out it's too big, and their store has it, I should be able to go to the store and exchange it for the one in stock. You will be surprised how many times (and how many stores) this is a problem at.
For example, my wife bought some uniform shirts for the kid on oldnavy.com. Turns out they were too small. I go to Old Navy store to exchange them, thinking it will be quicker then shipping them back and waiting on new ones.
She paid $9.99 online for them. In the store, they were on sale for $12.59.
They refused to exchange them. They said the only thing they could do is process a return for the online shirts, at $9.99, and then sell me the new ones at $12.59, and I would have to pay the difference. They were the exact same shirts, exact same serial number and UPC number, etc.
I said no thanks. Wife sent them back in the mail and asked for a refund, which we got. Now, neither one of us will set foot in an old navy store, or buy from their website, ever again. They lost two customers over this stupid stuff.
It should be a seamless experience.
If I buy a shirt online and it turns out it's too big, and their store has it, I should be able to go to the store and exchange it for the one in stock. You will be surprised how many times (and how many stores) this is a problem at.
For example, my wife bought some uniform shirts for the kid on oldnavy.com. Turns out they were too small. I go to Old Navy store to exchange them, thinking it will be quicker then shipping them back and waiting on new ones.
She paid $9.99 online for them. In the store, they were on sale for $12.59.
They refused to exchange them. They said the only thing they could do is process a return for the online shirts, at $9.99, and then sell me the new ones at $12.59, and I would have to pay the difference. They were the exact same shirts, exact same serial number and UPC number, etc.
I said no thanks. Wife sent them back in the mail and asked for a refund, which we got. Now, neither one of us will set foot in an old navy store, or buy from their website, ever again. They lost two customers over this stupid stuff.
Posted on 2/27/17 at 8:26 pm to LSUFanHouston
Wife bought me a large polo at Sears for Christmas. Was too big. I recently went to exchange for the exact same shirt in medium size with receipt. They wouldn't let me because it's been too long. Would have understood if wanted money back or no receipt. Told the lady this is why y'all are going down.
Posted on 2/27/17 at 10:06 pm to LSUFanHouston
I would venture to guess it is more so the associate not knowing how to properly handle the exchange than Old Navy not having the ability to exchange your shirt correctly. Regardless there is still an issue in the store. Macys for example will order you the correct size in store and have it shipped to your house if they don't have it in stock.
Your overall point is right on tho. Online and in store and any bops type strategy has to all interconnect and be seamless.
Your overall point is right on tho. Online and in store and any bops type strategy has to all interconnect and be seamless.
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