JC Penney shares fall back below $1 as investors fear a lackluster Christmas
One of Penney’s biggest challenges has been dealing with a pile-up of unsold inventory. While other retailers, including Macy’s and Kohl’s, have made improvements in managing their merchandise in 2018 and are expected to head into the new year on a good footing, Penney still has work to do. Having a backlog of inventory means more pressure on profits, as the company will be forced to slash prices to clear shelves.
With Sears at risk of being liquidated, it sure looks like stores can't afford to keep inventory the old fashioned way.
https://www.cnbc.com/2018/12/27/jc-penney-shares-fall-back-below-1-on-fears-of-weak-christmas.html
With Sears at risk of being liquidated, it sure looks like stores can't afford to keep inventory the old fashioned way.
https://www.cnbc.com/2018/12/27/jc-penney-shares-fall-back-below-1-on-fears-of-weak-christmas.html
Although my take may be unpopular here, it is nevertheless true. Sears and JC Penney have been given an unfair playing field by the government, which has allowed Amazon to deal in counterfeits for well over a decade. Sears and JC Penney have had to adhere to selling genuine merchandize, while Amazon has acted as a bazaar for illegal goods. They simply can't compete with the low prices that accompany these fakes.
Why the government allowed Jeff Bezos to build his empire off of pirated brands remains a mystery.
Although my take may be unpopular here, it is nevertheless true. Sears and JC Penney have been given an unfair playing field by the government, which has allowed Amazon to deal in counterfeits for well over a decade. Sears and JC Penney have had to adhere to selling genuine merchandize, while Amazon has acted as a bazaar for illegal goods. They simply can't compete with the low prices that accompany these fakes.
Why the government allowed Jeff Bezos to build his empire off of pirated brands remains a mystery.
Sears and JC Penny were in trouble long before Amazon became the force they are today. Walmart and Target took the middle and low end of the market from both Sears and JC Penny.
Other department stores, Walmart, and Target all stores with the same restrictions are fine, how do you explain that? Sears and JC Penney only have themselves and their poor management to blame.
Walmart switched over to allowing 3rd party vendors several years ago. These are usually not legitimate sources of name brand goods. Walmart had to allow them in to complete with Amazon.
With Sears at risk of being liquidated, it sure looks like stores can't afford to keep inventory the old fashioned way.
https://www.cnbc.com/2018/12/27/jc-penney-shares-fall-back-below-1-on-fears-of-weak-christmas.html
https://www.britannica.com/topic/Sears-Roebuck-and-CompanyIn 1886 Richard W. Sears founded the R.W. Sears Watch Company in Minneapolis, Minnesota, to sell watches by mail order. He relocated his business to Chicago in 1887, hired Alvah C. Roebuck to repair watches, and established a mail-order business for watches and jewelry. The company’s first catalog was offered the same year.
Macys doesn't, Hudson's Bay doesn't, Target doesn't, it is 100% pure mismanagement, they have also been going downhill for far longer than Amazon has even been a threat. Sears and JCP refused to innovate.
Although my take may be unpopular here, it is nevertheless true. Sears and JC Penney have been given an unfair playing field by the government, which has allowed Amazon to deal in counterfeits for well over a decade. Sears and JC Penney have had to adhere to selling genuine merchandize, while Amazon has acted as a bazaar for illegal goods. They simply can't compete with the low prices that accompany these fakes.
Why the government allowed Jeff Bezos to build his empire off of pirated brands remains a mystery.
"Department store chains, have lost 500,000 jobs since 2001. In 2017 alone, a whole swath of chains including Payless and Toys "R" Us filed for bankruptcy, while major department retailers like Sears, J.C. Penney, and Macy's shuttered around 9,000 stores.
The number of store closings in the U.S. is expected to jump at least 33 percent to more than 12,000 in 2018, and another 25 major retailers could file for bankruptcy," Business Insider reports, working off an analysis by commercial real-estate firm Cushman & Wakefield.
Not surprisingly, the biggest losses will be among the chains that have already declared bankruptcy, like Payless and Toys "R" Us, Business Insider found. Walgreens and Gap will also see big losses. The larger department chains like J. Crew and Macy's will likely face far fewer closings. But they'll still have an impact, and Sears and Kmart aim to close a combined 63 stores in January."
The usual piranhas were allowed to in to many American chains, and they've bled them dry, while also owning Amazon stock:
"Basically, the companies were cannibalized by Wall Street for cash. Golden Gate Capital and Blum Capital sucked $700 million out of Payless between 2012 and 2013. Then Payless filed for bankruptcy last year. Toys "R" Us sent $2 billion to Kohlberg Kravis Roberts and Bain Capital, all while building up $5.2 billion in debt and as much as $500 million in annual interest payments. The toy store chain was actually seeing profits rise even as its finances forced it into bankruptcy.
Forced to take on huge debt burdens to finance payouts to shareholder, they had to shut down stores and lay off workers to balance the books. This is actually a practice that's become common across the American economy, and it helps explain why business investment has fallen even as corporate profit margins after tax have soared. But the hedge funds that own many of the big department chains seemed to have pursued the strategy with a particularly demented aggression."
Bezos, Blum, Kravis, Kohlberg... these nice folks ate the retail industry.
OK I'll bite. Now give me a reason to believe a word you say. What "counterfeits" are Amazon profiting with? Please include sales numbers and profits realized. Amazon is publicly traded and all those things are available so no waffling.
Macys doesn't, Hudson's Bay doesn't, Target doesn't, it is 100% pure mismanagement, they have also been going downhill for far longer than Amazon has even been a threat. Sears and JCP refused to innovate.
Toys R Us when under because they borrowed a huge amount of money right before the 2008 recession. Sears and JCP and going under for poor management, they are often used in business schools of how not to manage a company, as well as refusal to innovate and adopt new technologies like the internet.
Lol, you think Amazon provides a ledger for profits derived from counterfeits? They can't be that obvious about it.
Counterfeits have been an integral part of Amazon's business. Ditto for other online retailers.
“Amazon has made it extraordinarily difficult to enforce against counterfeiters,” Johnson, who now works on online anti-piracy cases with the law firm Johnson and Pham, told me recently.
Of course, the problem is not limited to Amazon. E-commerce sites like eBay, Newegg, and Walmart.com have also been accused of selling counterfeits.
Amazon is facing multiple lawsuits from large and small brands who say the company does not do enough to prevent counterfeits from being listed on its website. "
https://www.theatlantic.com/technology/archive/2018/04/amazon-may-have-a-counterfeit-problem/558482/
So it is their "marketplace" that allows outside businesses to list on their site? How is that their fault? How have they condoned any of it? Facebook has done far worse and got away with it. Here's the whole quote from your link...
The rise of e-commerce sites like Amazon and eBay have essentially helped created millions of such stores online—a seemingly infinite number of doors to knock on to check for fakes. Shut down one storefront for selling counterfeits, and the seller can just create a new account and open a new store.
That sounds like it is a problem with e-commerce not Amazon. The internet has brought new meaning to the words "buyer beware". What do you think amazon can do about that? Don't buy from Ebay or Amazon marketplace sellers and you will be fine. No one has accused the Amazon company of purposely selling counterfeit merchandise. Your post is misleading
And both Exxon and McDonalds used to trade for fifty cents each. I think Coke was a nickle at one time.With Sears at risk of being liquidated, it sure looks like stores can't afford to keep inventory the old fashioned way.
https://www.cnbc.com/2018/12/27/jc-penney-shares-fall-back-below-1-on-fears-of-weak-christmas.html
So it is their "marketplace" that allows outside businesses to list on their site? How is that their fault? How have they condoned any of it? Facebook has done far worse and got away with it. Here's the whole quote from your link...
The rise of e-commerce sites like Amazon and eBay have essentially helped created millions of such stores online—a seemingly infinite number of doors to knock on to check for fakes. Shut down one storefront for selling counterfeits, and the seller can just create a new account and open a new store.
That sounds like it is a problem with e-commerce not Amazon. The internet has brought new meaning to the words "buyer beware". What do you think amazon can do about that? Don't buy from Ebay or Amazon marketplace sellers and you will be fine. No one has accused the Amazon company of purposely selling counterfeit merchandise. Your post is misleading
Sadly, such practices have destroyed the market for things like Depressionware and Jewel Tea. What was once a celebration of Americana is now the despair of possibly buying a knock-off. As a result, the authentic items have lost most of their value.
https://en.wikipedia.org/wiki/Depression_glass
Sadly, such practices have destroyed the market for things like Depressionware and Jewel Tea. What was once a celebration of Americana is now the despair of possibly buying a knock-off. As a result, the authentic items have lost most of their value.
https://en.wikipedia.org/wiki/Depression_glass
Boo hoo you can't waste your money on old junk anymore. I'm not impressed. The Chinese have remade just about every Lionel Train ever made too but American companies are selling them for profit so why is it China's fault?
Destroying the vintage/antiques market is another reality of Chinese counterfeiting.
The funny thing about Sears? They were the Mother of mail-order business models.
https://www.britannica.com/topic/Sears-Roebuck-and-Company
Now that niche has been taken over by Amazon, using the internet to merchandise. Sears sure missed the bus on that one.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?