What recovery? SEARS and J.C. PENNEY are dying

[Flopper]

They all had their days in the Sun. Sears and Penny's will probably join them soon.
Enron
Beatrice Foods
Eastern Airlines
RCA
E.F. Hutton
Compaq
Burger Chef
TWA
General Foods Corp
Arthur Andersen
MCI WorldCom
Pan Am
Montgomery Ward
American Motors
F.W. Woolworth

 

[william the wie]

Actually Woolworth's is doing extremely well, it just changed the name in this country when all of their profits shifted to shoes. Although the old name is still in use where the company sells groceries like in Australia. Although that last part might be a spin off.

 

[Politico]

Been hearing a lot about Sears, little about the demise of JCP.

Their attempt at "Everyday low pricing" doomed them. The first my wife heard of it she said it was a stupid move and she'd stop shopping them.

Without her money JCP was destined to fail! Even Ellen couldn't save from that bonehead marketing move.

Penny's came out with a first price is their best price policy a few years ago. It sounded like a good business decision but customers didn't like it. Too many people just love those cascading markdowns.

It is a commonly known fact that consumers are stupid sheep.You put $10 on an item they don't buy. You put $9.99 on it the idiots think they're getting a deal. Going to the flat price system shows everyone in management have no clue how to run a company.

 

[william the wie]

Not an attempt at thread hijacking but everyone does realize that Amazon and other companies are also trying to get into fresh food and groceries delivery? This model is also available in the UK now. So, bookstores, department stores and now grocery stores are headed for the exits.

 

[Politico]

Grocery stores are not headed anywhere. And Amazon is losing money left and right.

 

[Flopper]

Been hearing a lot about Sears, little about the demise of JCP.

Their attempt at "Everyday low pricing" doomed them. The first my wife heard of it she said it was a stupid move and she'd stop shopping them.

Without her money JCP was destined to fail! Even Ellen couldn't save from that bonehead marketing move.

Penny's came out with a first price is their best price policy a few years ago. It sounded like a good business decision but customers didn't like it. Too many people just love those cascading markdowns.

It is a commonly known fact that consumers are stupid sheep.You put $10 on an item they don't buy. You put $9.99 on it the idiots think they're getting a deal. Going to the flat price system shows everyone in management have no clue how to run a company.

Penny's didn't go to flat prices. They change the pricing strategy to "every day low prices", month long sales, and a best price guarantee which made sense to management but not the customers. Their prior pricing strategy had been constant sales, coupon discounts, day of week discounts, holiday sales, etc.

Penny's has better chance of making it than Sears, but I wouldn't be putting bets on it.

 

[Toro]

Penny is going under because a hedge fund manager thought he was a retail mogul, did some really stupid things and drove their shoppers away.

Sears is going under because a hedge fund manager thought he was a retail mogul, did some really stupid things and drove their shoppers away.


Damn, I didn't realize that I'd write the exact same thing about the two different companies until I did.

 

[william the wie]

Penny is going under because a hedge fund manager thought he was a retail mogul, did some really stupid things and drove their shoppers away.

Sears is going under because a hedge fund manager thought he was a retail mogul, did some really stupid things and drove their shoppers away.


Damn, I didn't realize that I'd write the exact same thing about the two different companies until I did.

When you decide you are a retail mogul contact me, I will gladly sign an NDA to stay out of that trainwreck.

 

[Sallow]

They all had their days in the Sun. Sears and Penny's will probably join them soon.
Enron
Beatrice Foods
Eastern Airlines
RCA
E.F. Hutton
Compaq
Burger Chef
TWA
General Foods Corp
Arthur Andersen
MCI WorldCom
Pan Am
Montgomery Ward
American Motors
F.W. Woolworth

Boy do I miss Pan Am and TWA.

That's when flying was fun!

 

[Ava]

It's a shame

Sears was the Amazon of the day. It's catalog was the way people shopped in remote areas

As a kid, I couldn't wait for the Sears Christmas catalog to come out

I'm told the pages of the catalogs used to line the walls of outhouses of the regular, and not-so regular, "folks."

 

[DennyO]

It's a shame

Sears was the Amazon of the day. It's catalog was the way people shopped in remote areas

As a kid, I couldn't wait for the Sears Christmas catalog to come out

It is really astonishing that the one company that could have leveraged the internet most to its advantage was Sears. The basics of online shopping from a logistics standpoint were already fortes Sears had mastered years beforehand. Essentially, the web was just a different type of interface for its catalog operations. And, all for the better, with no need for paper handling or a human voice at the end of the telephone.

But, they had the crappiest website back ten years ago, while Amazon was making giant strides. The small, even B&W pictures and descriptions on the Sears website were pathetic.

It could have turned out so much differently. Sears blew the mission big time.

 

[Vandalshandle]

Well, as for me, I'm sticking with Montgomery Ward...if I can find one.

 

[Howey]

Sears and Penny's are going under not because of the recovery, but because of horrible business practices.

 

[RandomVariable]

It's a shame

Sears was the Amazon of the day. It's catalog was the way people shopped in remote areas

As a kid, I couldn't wait for the Sears Christmas catalog to come out

That's funny.

 

[OnePercenter]

They all had their days in the Sun. Sears and Penny's will probably join them soon.
Enron
Beatrice Foods
Eastern Airlines
RCA
E.F. Hutton
Compaq
Burger Chef
TWA
General Foods Corp
Arthur Andersen
MCI WorldCom
Pan Am
Montgomery Ward
American Motors
F.W. Woolworth

Boy do I miss Pan Am and TWA.

That's when flying was fun!

If you want fun, you should fly the friendly skies of NetJets!

 

[Flopper]

They all had their days in the Sun. Sears and Penny's will probably join them soon.
Enron
Beatrice Foods
Eastern Airlines
RCA
E.F. Hutton
Compaq
Burger Chef
TWA
General Foods Corp
Arthur Andersen
MCI WorldCom
Pan Am
Montgomery Ward
American Motors
F.W. Woolworth

Boy do I miss Pan Am and TWA.

That's when flying was fun!

Yes, those were good days when we could walk up to a gate and buy a ticket, fly without reservations and body searches, washing machines that were good for 25 years, furniture that was built to last more than 5 years, employees that actually cared about the goods they produced, and employers who cared about their employees.