Here’s a bit of cheery news about a venerable American retailer: JCPenney’s comparable store sales as calculated so far for the first quarter were up 6% over last year. Unfortunately, the reason why we know this is somewhat less cheery. Someone described as a “senior official” at the company accidentally e-mailed early figures that weren’t yet public for the first quarter of 2015 to a securities analyst. [More]
Bargain-hunters love the thrill of seeing huge discounts fall off their total at the cash register, but this joy doesn’t necessarily reflect the truth. If a retailer never intended for anyone to pay the original sticker price, was it ever an original price at all? [More]
We keep hearing about how desperate JCPenney is to get customers and their wallets inside the doors these days. Well, they’re not going to get reader Kristen and her family’s money anymore. It’s too bad, too: Kristen and Mr. Kristen have twin babies. Do you know how fast kids outgrow their clothes? In duplicate? They had made an appointment at their local JCP’s portrait studio, and found the studio abandoned. The ostensible reason: the camera was broken. You’re running a portrait studio without a backup camera?
When JCPenney killed off its traditional Big Book catalog last year, the result was a drop in sales on its website, says the retailer’s chairman. Based on that successful strategy–wait, what?–JCPenney says it’s killing off its remaining 12 specialty catalogs as well. Instead, it will start mailing out thinner “look books,” which will contain a subset of merchandise and no prices.