Trying to compete with Sears, interesting story in the link!
JC Penny to start selling large appliances after 33 years!
- Thread starter jetaction
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How many people are willing to lug their refrigerator/range/washer/dryer around the store to find a cashier?
ROFL
I just arrived here (less than a month ago) and I already noticed it's NIGHTMARE to find a cashier at JC Penny.
I thought it was just me...
I just arrived here (less than a month ago) and I already noticed it's NIGHTMARE to find a cashier at JC Penny.
I thought it was just me...
stricklybojack
Well-known member
.
It's an easy way to boost top line revenues by selling more high ticket stuff...not necessarily bottom line profits though.
For the same reason Apple will be selling cars fairly soon.
Anything to keep the stock price up...
It's an easy way to boost top line revenues by selling more high ticket stuff...not necessarily bottom line profits though.
For the same reason Apple will be selling cars fairly soon.
Anything to keep the stock price up...
compete with Sears
I'm not sure that is a competition they want to engage in. If JCP just waits a bit the competition may be greatly reduced...
I'm not sure that is a competition they want to engage in. If JCP just waits a bit the competition may be greatly reduced...
twintubdexter
Well-known member
"are you sure this Penncrest is built to last?"
Stricklybojack (?) knows what he's talking about. In a department store, big-ticket/low-margin volume has the opposite effect on profit. When I bought TV/Stereo many years ago for a San Francisco-based department store sales for the department were huge but the bottom of the operating statement was all minuses. This was true for most of the hardline areas. The countless expenses of running a huge store are allocated to each department based on sales volume. Ready-to-wear with it's enormous margins is where the profit came from. The major appliance department was one of the first to go followed by my area. I ended up with "Personal Electronics" and somehow phone answering machines and Sony Walkmen didn't have the same "prestige."
I would wish Penny's success in their new venture, a store with a very long history and an interesting past. Over the years they, like Sears, have tried their hand at many endeavors although selling major appliances in certainly nothing new to them. Some of you may be familiar with a dairy company called Foremost. It was started by Penny himself in Florida. "Foremost" was James "Cash" Penny's prize bull. I'll toss this in for interest...back when employers could be dictatorial and ask whatever they wanted to on an application, Mr. Penny forbid any of his stores to hire anyone who owned a dog...go figure.
Stricklybojack (?) knows what he's talking about. In a department store, big-ticket/low-margin volume has the opposite effect on profit. When I bought TV/Stereo many years ago for a San Francisco-based department store sales for the department were huge but the bottom of the operating statement was all minuses. This was true for most of the hardline areas. The countless expenses of running a huge store are allocated to each department based on sales volume. Ready-to-wear with it's enormous margins is where the profit came from. The major appliance department was one of the first to go followed by my area. I ended up with "Personal Electronics" and somehow phone answering machines and Sony Walkmen didn't have the same "prestige."
I would wish Penny's success in their new venture, a store with a very long history and an interesting past. Over the years they, like Sears, have tried their hand at many endeavors although selling major appliances in certainly nothing new to them. Some of you may be familiar with a dairy company called Foremost. It was started by Penny himself in Florida. "Foremost" was James "Cash" Penny's prize bull. I'll toss this in for interest...back when employers could be dictatorial and ask whatever they wanted to on an application, Mr. Penny forbid any of his stores to hire anyone who owned a dog...go figure.
So are they bringing back the Penncrest brand?
Brings back memories
back in the day, when JCP and Sears put out the big catalogs, we were Pennys shoppers. Dad had a massive thing about Sears, hated them and as a result, we had Pennys Fridge, Ac, Deep Freezer and I grew up in Plain Pocket jeans.
Penncrest............ah what a lovely name.
back in the day, when JCP and Sears put out the big catalogs, we were Pennys shoppers. Dad had a massive thing about Sears, hated them and as a result, we had Pennys Fridge, Ac, Deep Freezer and I grew up in Plain Pocket jeans.
Penncrest............ah what a lovely name.
So are they bringing back the Penncrest brand?
Hopefully only if they bring back the good logo.
Hopefully only if they bring back the good logo.
toploader55
Well-known member
Excellent Nate !!!
arbilab
Well-known member
I've still got a JCP microwave from 1982, a GE made with Toshiba parts. When I got it, I singlehandedly pulled the thing in its box from the hatch of my VW Rabbit. Today it's all I can do to nudge it around the countertop for cleaning. It weighs a TON. Big enough to contain a fullsize turkey, though who in their right mind would attempt to microwave a turkey? Took it halfway apart 4 years ago, the stirrer motor developed a nasty squeal that a drop of oil fixed.
What appliance of ANY kind can you buy today and expect 30+ years of service? Geezis, the fluorescent display is still bright and the clock dead-balls accurate (it's an industry term) (My Cousin Vinny).
I only 'cook' meatloaf, scrambled eggs, and hamburger (browning dish) in it but I heat EVERYthing from vegetables to coffee water. I can't even guess how many hours that machine has on it.
But back to JCP as a whole, they were mom's utility clothing source and their branded stuff (whoever actually made it) was good as any. Not so sure the same can be said today, mostly haven't been there since 1982. Which might suggest their problem.
What appliance of ANY kind can you buy today and expect 30+ years of service? Geezis, the fluorescent display is still bright and the clock dead-balls accurate (it's an industry term) (My Cousin Vinny).
I only 'cook' meatloaf, scrambled eggs, and hamburger (browning dish) in it but I heat EVERYthing from vegetables to coffee water. I can't even guess how many hours that machine has on it.
But back to JCP as a whole, they were mom's utility clothing source and their branded stuff (whoever actually made it) was good as any. Not so sure the same can be said today, mostly haven't been there since 1982. Which might suggest their problem.
The "P" logo and the Penncrest brand - rebranded Hotpoint laundry with Hydro Flex wash action? I'm there.
With the GE appliance division going to Haier, perhaps Little Swan/ Midea can be tapped for their excess production capacity to revive the Penncrest line.
With the GE appliance division going to Haier, perhaps Little Swan/ Midea can be tapped for their excess production capacity to revive the Penncrest line.
Not quite sure why everybody thinks that brand comes back... They clearly state they'll offer some mainstream brands only...
One can dream...
Y'all missed in the article that they are just dipping their toes in the market--they aren't even taking title to the appliances, but arranging for drop-shipments from the mfg.. Not necessarily the most lucrative way to make an appliance business, but reduces the downside.
The Return of Penncrest! (?)
With the decline in Sears, it's a good opportunity for JCP to reinvent themselves...
However, there was a time when when Penny's was closing a lot of their stores (and the nearest mall near me where there was one--Northland--still sits a vast amount of vacant, empty space...) so this calls for suddenly ones to start opening (maybe where some of those K Marts used to be)...
It would take some good business practices & catching up on proper management for this sort of a trend to last--and with the brands you have left (even if anyone could reinstate the Penncrest brand) there's hardly anything that's going to be unique that could bring anything out of the sphere of anonymounity...
-- Dave
[this post was last edited: 1/21/2016-11:27]
With the decline in Sears, it's a good opportunity for JCP to reinvent themselves...
However, there was a time when when Penny's was closing a lot of their stores (and the nearest mall near me where there was one--Northland--still sits a vast amount of vacant, empty space...) so this calls for suddenly ones to start opening (maybe where some of those K Marts used to be)...
It would take some good business practices & catching up on proper management for this sort of a trend to last--and with the brands you have left (even if anyone could reinstate the Penncrest brand) there's hardly anything that's going to be unique that could bring anything out of the sphere of anonymounity...
-- Dave
[this post was last edited: 1/21/2016-11:27]
twintubdexter
Well-known member
I of course mentioned the Penncrest name in my post as humor and it's true, they are simply exploring the idea for a few stores. I believe they still operate +/- 1000 stores and rolling out major appliances in just half would seem to be a questionable and risky expenditure especially for a company on thin ice.
Find a cashier...
Or a website for that matter. I can see on Google that they ship to over 100 countries. But this is what I get...
Or a website for that matter. I can see on Google that they ship to over 100 countries. But this is what I get...
mrb627
Well-known member
Works For Me.
Website
Website
