Buy more save more at JCP, plus doorbusters!

JCPenney

JC Penney is running a buy more, save more deal: $20/$100, $15/$75, or $10/$50 with code SUMMER through 6/24Aren’t you glad that coupons are back? Exclusions do apply. Here are some current sales to use this on:

JC Penney online clothing sale! $10 off $50 or $25 off $100

JCPenney

Here’s an online-only JCP apparel sale: $10/$50 and $25/$100, good on apparel, accessories & footwear. Just enter code 4STYLE at checkout through 6/9! Some exclusions, as always, apply — you’ll see them when you click through, but no Levi’s, Nike, Sephora, etc. Doesn’t say anything about no clearance, though. :)

I’d rather shop them online than try to navigate their new store layouts to find something — how about you?!

Been watching the JC Penney saga? Ron Johnson is out!

jcp

Jadeyzma and Jenifer both shared this story from the Chicago Tribune: JC Penney CEO Ron Johnson is OUT today, and has been replaced by… his predecessor.

J.C. Penney Chief Executive Ron Johnson, who tried to replace sales and coupons with everyday low prices, is out after sales plunged 25 percent last year, and the department store chain said it will replace him with his predecessor Mike Ullman.

Shares in J.C. Penney rose nearly 11 percent after the initial CNBC report that Johnson was out, then fell 6 percent after the company said Ullman was back.

And here’s another report from the New York Times:

Still, it is a curious move to go back to Mr. Ullman. Most of the senior employees that he had assembled at Penney either left or were dismissed by Mr. Johnson. And it was dissatisfaction with where Mr. Ullman was taking the company that led Mr. Ackman to look for another leader in the first place. Though profitable, Penney was seen as a mediocre retailer that was losing ground to competitors like Macy’s and Kohl’s.

Now, it is unprofitable, still losing ground to Macy’s and Kohl’s, and in the midst of a very expensive turnaround, the future of which is uncertain. Though some of Mr. Johnson’s plans can no doubt be jettisoned, his new merchandise is arriving in stores, the stores are undergoing extensive renovations, and Penney has already revised pricing several times. The company is also fighting Macy’s in court over Penney’s attempt to sell Martha Stewart home goods in its stores.

What do you think — are they going to be able to turn it around with Johnson now gone?

20% off at JCP — but it’s NOT a coupon

OK, this is soooo funny. Maybe just to me. But JC Penney just emailed out a 20% off Friends & Family coupon for this weekend. Good 12/8-12/10.

Note that the “coupon” just says to enjoy 20% off and doesn’t say “coupon” anywhere… except in the website address. Yeah, JCP. It’s a coupon. Just admit it, and let’s take the first step back toward being friends, if maybe not family.

JC Penney — more ouch

So, while we’re reading articles… Jill Cataldo posted another one today on JC Penney, which laid off 350 people at its headquarters on Tuesday. We’ve already talked about theirstock tumble and odd change in strategies in a world where people love coupons, but here are a couple of fun quotes from this one:

“The next step is the CEO has to go, I guess,” said Howard Davidowitz, chairman of New York-based Davidowitz & Associates, a retail consulting and investment-banking firm. “Because if it stays like this, the question will be, ‘What credibility does he have to do anything?’ He will have lost all credibility.”

Davidowitz has previously made his position on the J.C. Penney transformation clear, saying Johnson “caused incalculable damage” to the department store chain.

“They’ve begun to realize the coupon and sales addiction probably runs far and deep,” Hill said. “And customers don’t want to go cold turkey.”

Davidowitz didn’t offer many solutions for J.C. Penney, saying, “I’d have to spend months figuring out what to do because the mess is so deep.” He still can’t believe that J.C. Penney would abandon its core customer so quickly in order to test a new pricing and marketing strategy.

I don’t even have to say anything about this one, right?

Best of luck in future endeavors — JC Penney president is gone

Raise your hand if you’re too terribly surprised that the president of JC Penney is leaving… after… 8 whole months!

In a terse statement, the department store operator gave no reason for his immediate departure, effective Monday.

“We thank Michael for his hard work at J.C. Penney and wish him the best in his future endeavors,” said Ron Johnson, Penney’s new CEO and former Apple Inc. executive who came on board in November and is trying to transform the chain from a retail has-been to retail darling.

The move comes as the department store chain is scrambling to reverse a sharp drop in customer counts and sales after a new pricing plan that eliminates hundreds of sales events ended up confusing customers.

Now. How much was the golden parachute, is my question… :)