J.C. Penney files for bankruptcy

[claudegrizzle]

Another sad story, feel bad all who will lose their jobs etc. So many small businesses are hurting through all this stuff. Hope things get better soon.

[bretay]

i saw that..we had one in the mall..havent heard whether they opened or not..probably not..our mall is really slow..so not much business there

[cadence4u]

I use to work for them years ago 2002 - 2005!

Since I left, I notice that JcPenney let several employees go. JcPenney has very little employees staff. I could never find customer service to look for some items!

If the JcPenney properly staff their stores - they can earn their quotas!

[ghunter]

So sad to hear, but JC Penny have been around a long time and they have struggle.

[countrygirl12]

I use to work for them years ago 2002 - 2005!

Since I left, I notice that JcPenney let several employees go. JcPenney has very little employees staff. I could never find customer service to look for some items!

If the JcPenney properly staff their stores - they can earn their quotas!

Having less employees should allow you to fill your "quota" easier.  The more employees the more customers you need. I don't think stores like that should have a quota you have to meet.  You cannot make people buy things. I worked a part time job once where they tried to say you have to sell x number of warranties or you get wrote up. I did not sell any and I did not get wrote up.  They got told real quick legally they could not do that and you cannot make people buy something they do not want. One girl ended up calling corporate and the policy was not only changed but the assistant manager that tried to do this was moved to a different store. lol

Usually when I ever went in Penny store I was looking for something specific not just browsing for clothes.

[cathy37]

I know they have had some financial problems in the past because they have closed several stores.  I haven't shopped at JC Penny in several years.

[bremer51]

I used to be a regular shopper at JC Penney, but with online shopping and access to many more interesting stores, I've kind of phased them out.  Happening to lots of the old standbys.

[nickylanena]

The surprise, for me, was that they lasted so long. To say that JC Penny was not affected by CoVid does not appear to be true as the stock dropped from fifty cents a share on March eleventh (when the World Health Organization announced that the virus was at pandemic status). The store has not, aggressively, kept up with the times: little to no market diversification or web presence. Uniquely manufactured products are not produced by the store. Relying on being anchors in malls (dying dinosaurs) is a signed death certificate. The stock dropped over eighty percent in the last year: from one dollar and twenty six cents a share to twenty four cents a share becoming a true penny stock (tic). The stock price hit a high of eleven dollars and fifty seven cents in two thousand and sixteen an ha steadily decreased ever since. Without paying dividends there is no interest generated for individual investors, lack of diversification makes the likelihood of a bail out unlikely.

Exactly! I'm actually shocked that this hasn't happened sooner.

[suemgross]

So sad, but I'm really not surprised.  I will miss the store.  It was kind of my go-to store if I couldn't find what I wanted at Kohls.

[timvolley]

i am not surprised as more and more people are shopping online.  i cant remember the last time i was in JC Penney

[ancmetro]

   Oh! JCPenney do not away.
   You are the best of many department stores.

[judylucas]

I'm not a shopper but I could depend on Penney's to have what I needed without a hassle

[beatsdrop]

Sad, but not surprising.

[JaniceSW]

I am sad and depressed over what is happening in the brick and mortar retail industry.  I grew up with so many of the retail stores and malls.  I like seeing things in person and being able to touch and examine them.  All the packaging materials used in online shipping is creating even more problems for our environment.  This kind of thing is actually a bit painful to me!

[DEBMZ6]

Sad to hear but I'm not surprised since they have had some financial problems in the past.  Of the 240 stores that they plan to close I sure hope the one in our local mall isn't one of them.  I don't shop there often but it is one of the anchor stores in our mall.