Case Analysis: J. C. Penney Company, Inc. Founded by James Cash Penney in 1902, J. C. Penney Company, Inc. has grown into a major mid-tier retailer. Focusing on providing goods and services for middle-income families, Penney’s competes in several segments. Although men’s and women’s apparel accounts for nearly half of all sales, Penney’s has a diverse portfolio including cosmetics, hair salons, home furnishings and appliances (J. C. Penney Company, Inc., 2015). As one of the oldest retailers in America, Penney’s has recently struggled to maintain the loyalty of existing customers while attempting to attract new ones. Historical Background Penney’s faced a hyper-competitive environment following the recession of 2008. As the economy began …show more content…
Struggling to stave off collapse after years of steep losses, while competitors were expanding into emerging markets, they were desperately trying to stabilize and hold ground. Currently, the global marketplace is beyond their reach. Penney’s is also hampered by a lack of differentiation from competitors. Kohl’s, Macy’s, and even Wal-Mart target similar market segments with similar products. Finally, and most importantly, Penney’s has lost their customers’ loyalty. Women had shopped at Penney’s for generations, drawn to their reputation for combining quality products with great discounts through clearance, coupons, and sales. Although Penney’s has tried to forget the drastic policies of Johnson, customers that fled due to his changes have been slow to …show more content…
One tactic is decreasing overall marketing cost by utilizing social media and online marketing avenues to advertise promotions and sales to consumers (La Monica, 2016). Another tactic is implementing more efficient inventory control with better communications between upper management and employees (Wahba, 2016). Utilizing a “demand-based logic” technology system, Penney’s tracks real-time sales data for improved inventory management, ensuring stores are adequately stocked to meet demand. The information is integrated within a new database that will analyze consumer demand and help synchronize pricing decisions with sales and
History Roommates at Lehigh University Richard Hayne and Scott Belair founded urban Outfitters in 1970. The two were just getting back from doing internships and volunteer work after completing their freshman year of college. Coming back for their sophomore year, the two discussed ideas of a store that sells inexpensive clothes and accessories for dorm rooms. The two open Free People Store in Philadelphia investing $5,000, the store sold inexpensive wore clothes, drug paraphernalia, candles, shirts, and jewelry. Successfully staying in business the two changed the name from Free People Store to Urban Outfitters.
This research paper will explain the origin of the J.C. Penney Empire. It will detail the beginning when James Cash Penney opened his first store. James was a small retail businessman from Missouri. He founded one store which lead to a nationwide chain of J.C. Penney stores. The store carried a variety of products.
On the other hand, Macy’s has been struggling with maintaining continues high sales. This paper will explore these
J. C. Penney, a Fortune 500 retail store, provides a variety of brands, catering to diverse customers’ specific income, size, and
M8: Assignment 3 Deniro Dawson Justin Palyvoda Caitlin Gayle Po Melanie Shane INFO 290_21 Professor Chen Macy’s vs. JCPenney Word Count: 1205 Introduction Macy's, Inc. is a retail company operating stores, websites and mobile applications under various brands, such as Macy's. The Company sells a range of merchandise, including apparel and accessories, cosmetics, home furnishings and other consumer goods.
Have you ever been shopping in J.C. Penney’s and wondered what was this store like in the 1920’s? In the 1920’s the store J.C. Penney was named after a guy named James Cash Jr. and he led the business. J.C Penney was one of the stores that sold fashion clothes and it later became famous, also it was a store people would always go in and buy a whole bunch of stuff and the store would make a whole lot of money off of it. James Cash Jr. became famous because the store was named after him. The store J.C Penney fell and rose again in the 1930s.
During this time this was marked as the beginning stages of the great depression. With the great depression affecting the
Due to the store’s popularity and growth, the company quickly expanded and relocated their headquarters to New York City. In the span of 27 years, JC Penney grew to over 1,000 stores and went public. JC Penney “used to be a place where working class and upper middle-class families could buy good quality merchandise, at a fair price, with friendly sales people. It was stable, trendy, and reflected the growing affluence of the typical American
1. Describe J.C; Penney 's culture before and during Johnson 's time in the organization. What were the attributes that Johnson changed, and how did this impact the culture and success of J.C. Penney? J.C. Penney’s culture was based on transparency and loyalty before the entry of Ron Johnson.
It all started on October 29, 1929, when the stock market crashed from incredible amounts of people depositing their entire life savings into the economy. While the stock
This tragic decade started with the Stock Market Crash of 1929 which pressured many banks and made them close their doors. After the market crashed, consumer confidence vanished leading to piles of unsold goods and slowed production. This caused employers or business owners to start laying off their workers. Those who were lucky enough to stay, were paid in small amounts. Over the years, consumer spending and investments dropped causing declines in “industrial output” and the unemployment status to rise.
By the end of 1927, the economy began to appear some warning signals. Until February 1928, many pundits started to make some warning information,
Victoria Secret was profitable enough in their first year, for the company to open four more physical locations, as well as a mail order catalogue. Although Roy Raymond’s policy was initially profitable, but as we will discuss in the later parts of this paper, it also had its downsides that almost led to the bankruptcy of Victoria Secret. Today, Victoria Secret is a multi billion dollar conglomerate with more than a thousand stores in more than 180 countries generating an annual income of over five billion. 2. PESTEL ANALYSIS The external environment of a company can affect everything from company policies, finances, sales, targeted customers and can be a deciding factor in whether the company remains for another season.
In Kmart stores, there is a price checker system that scans the barcode and show the price. Alignment of current systems with business goals: CBX software increase direct sourcing with suppliers to reduce the prices satisfying its customer tag-line “Lower prices everyday”. Using JDA, Kmart’s objective of customer satisfaction is further enhanced as products are allocated properly reducing stock outs. Using POS systems, staff cost was reduced and transactions became easy. Inventory management systems helps Kmart to organize inventory and manage orders conveniently.