By Abha Bhattarai Abha Bhattarai Reporter covering the retail industry Email Bio Follow May 24 Christie Mowry, a 43-year-old mom in Missouri, loves shopping at J.C. Penney.
J.C. Penney and Kohl’s — which have toggled between courting moms and millennials — both posted disappointed earnings this past week. And Dress Barn, frequented almost exclusively by middle-aged working women, announced Tuesday that it was closing all 650 of its stores. New tariffs, he added, are likely to make matters worse for middle-of-the-road retailers. Executives at J.C. Penney, Kohl’s and Macy’s this past week warned that the trade war may soon cut into profits as they pay 25 percent more to import items such as makeup, handbags and leather jackets. At the same time, cash-strapped consumers are likely to cut back on clothing and shoes as they pay more for groceries, toilet paper and other essentials.
J.C. Penney’s troubles go back nearly a decade, when the company brought on Ron Johnson, formerly head of Apple’s retail business, to revamp its stores. He got rid of coupons and tried to turn the company’s tired locations into sexier enclaves filled with “stores within a store” featuring brands such as Levi’s and I Jeans by Buffalo. It was a fast failure: Sales dropped by about 30 percent, and longtime shoppers swore off the company.
The company is now opening 500 new baby shops and replacing its appliance and furniture departments with more clothing. It also brought on a new CEO, Jill Soltau, who has yet to outline her strategy for the company.
Disagree. jcpenney has done a pretty good job with it's Liz Claiborne brand, Worthington fit is fair and it's overpriced but still styles are OK for middle-aged moms. Kohls 's is stale in every way.
ALL clothes sellers have! What’s out there is for sleazy people under 20 or fat people over 90. Nothing classic, modest or well-made!!
Honestly it kinda doesn't matter either way. The internet and the usage of online coupons makes these stores kinda of irrelevant
Good shopping 👏
Does anyone in the media know what a millennial IS?
realDonaldTrump tax cuts didnt make up for losses? 😕
Sorry Brenda. 😢
Sooo not gonna read this
We blaming trump or is this more Russia collusion? 🤯
Stg they were the biggest bitches when I worked there.
Kohl's costs twice as much as Target for the same shit
F
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J.C. Penney same-store sales fall more than expected, shares dropJ.C. Penney Co Inc reported a steeper-than-expected fall in quarterly comparable... Get out of the malls, fast Last time I was in a JCPennys it was depressing. I passed by a closed down Sears store. It made me sad. So sorry to J.C. Penney Stores go away too.
Source: Reuters - 🏆 2. / 97 Read more »
Former JC Penney CEO: China trade deal needed by end of year or retail's 'got a real problem''If the tariffs don't get solved this year then you've got a real problem,' former J.C. Penney CEO Allen Questrom says. Buy American So what make your products in other countries Move your supply chains to surrounding countries like everybody else or better yet, charge a little more and sell American made quality and get out ahead of the curve. That's why you're in the shape you're in.
Source: CNBC - 🏆 12. / 72 Read more »
Big Retailers’ Sales Lag as They Gird for TariffsSales at Kohl’s, J.C. Penney and Nordstrom weakened in the latest quarter as the retailers experienced a slower start to the year, sending their shares down. analysts' and estimates: If you are supposed to know of a slow down in China or anywhere else... estimates should be revised and further the way the estimates are derived should be addressed. Bringing these subjects together falls short and should be separate stories. THANK YOU POTUS A convenient excuse, been in all these stores last quarter and prices have not changed
Source: WSJ - 🏆 98. / 63 Read more »
Terrible Tuesday for Department StoresKohl’s and J.C. Penney reported disappointing quarterly results, setting off a tumble in the department-store sector.
Source: WSJ - 🏆 98. / 63 Read more »
J.C. Penney same-store sales fall more than expected, shares dropJ.C. Penney Co Inc reported a steeper-than-expected fall in quarterly comparable... Get out of the malls, fast Last time I was in a JCPennys it was depressing. I passed by a closed down Sears store. It made me sad. So sorry to J.C. Penney Stores go away too.
Source: Reuters - 🏆 2. / 97 Read more »
Heart disease deaths in middle-aged women on the riseDeath rates from heart disease are rising for middle-aged adults — white women, in particular — according to a report released on Wednesday by the CDC. Maybe, for the majority of white women, continuing to support racist and misogynist candidates and policies is eating away at their shrinking hearts?.
Source: NBCNews - 🏆 10. / 86 Read more »
19 More Childbirth Fails That Prove When It Comes To Having Babies, Husbands Are CluelessMy husband said, 'Wow, this isn't so bad. It's just like a sow giving birth.'
Source: BuzzFeed - 🏆 730. / 51 Read more »
Former JC Penney CEO: China trade deal needed by end of year or retail's 'got a real problem''If the tariffs don't get solved this year then you've got a real problem,' former J.C. Penney CEO Allen Questrom says. Buy American So what make your products in other countries Move your supply chains to surrounding countries like everybody else or better yet, charge a little more and sell American made quality and get out ahead of the curve. That's why you're in the shape you're in.
Source: CNBC - 🏆 12. / 72 Read more »
Kohl's cuts profit forecast after weak first quarter, shares fall 10%Kohl's Corp slashed full-year profit forecast after the department store op... Well fuck But, but, but ... they just partnered with Amazon ... but the good news is that if Kohl's fails, Amazon already has a foot in the door to take over Well. Trump is doing everything he can to hurt our economy. Tariffs and yes getting rid of Immagrants hurt the economy.
Source: Reuters - 🏆 2. / 97 Read more »
Despite a bold approach, Kohl's struggles to escape department store woesKohl's reinvented itself to adapt to sweeping changes in the retail industry. But the company still can't dodge intense pressures on department stores from online rivals, big box retailers and discount chains. May be economical to some businesses, but in addition to actually purchasing something, don't forget about the other two purposes of shopping - enjoyment of physical experience & joy of shopping, and the social aspect of it. The price of technology. Will only get worse as technology gets better. stores shopping malls are losing sheen as higher prices high expenditure lower pax numbers online shopping hv drove profits down
Source: CNN - 🏆 4. / 95 Read more »
Tariffs and trade war are squeezing us, say executives from Kohl's, JCPenneyAlso this week, more than 170 shoe retailers, including Nike and Under Armour, sent a letter to President Donald Trump, saying 25 percent tariffs could lead to certain families paying a nearly 100 percent duty on shoes. Winning. This is what we get when a dunce is in charge. Says the companies that sell $150 shoes made by children. How about making your products in America then find something to complain about. Make America Pay Again MAPA
Source: NBCNews - 🏆 10. / 86 Read more »