More bad news came from department store giant JC Penney. It is closing 33 of its stores in the U.S. - only one in Tennessee - in order to shore up its bottom line.
The decision will cut 2,000 jobs and result in a savings of $65M. The move follows a dismal end to 2013 in which the company experienced a 30 percent drop in sales.
Hey don’t blame us! Even before she knew the topic for this evening’s Coach Jeff’s Blog, Lisa dropped by JCP to buy our niece’s birthday gift! We are trying to do our part!
The outlook never seems good for America’s retailers these days. This news comes on the heels of myriad dark stories from Target over the credit card and debit card breach late last year. And it always seems like stalwart Sears is struggling.
We’re a long way away, it seems, from the days that those giant department stores were the place Where America Shops. All this and yet I’m still pining for a Macy’s to enter the East Tennessee market.
During the recent holiday shopping season, it seemed like there was wave after wave of ‘super saver door buster sales’ as retail giants tried to tempt shoppers. Then, you might remember the grumbling about the shopping marathons in the final days before Christmas where select businesses, like Toys-R-Us for example, were open round the clock.
Before that, we heard of the scads of stores that got a jump on Black Friday sales by opening on Thanksgiving Day. Despite the backlash from outraged consumers, it seems shoppers still flocked to the stores and the businesses, themselves, were shameless about their approach.
All this and still sales are flagging?
So, where IS it that America shops? Or have these giant companies grown so large and bulky that no amount of business is enough to sustain. Surely, the likes of online sites such as Amazon, iTunes and eBay don’t do that much of a dent.
I have a working premise that EVERYTHING gets bigger every year. The Super Bowl, for example, was once a football game. Now, the game, itself, is secondary to the hoopla and the spectacle. Athletic training used to mean running and workouts with weights and specified diets. Now, there are personal trainers featuring unique plans and devices to help the client get in shape.
Supermarkets now feature lounge-chairs, linens and lamps alongside cheese, chips and chives. Our local grocery store features a stand-alone jewelry store inside.
Where does it all stop? Surely, at one point, you wonder if it might all be too much.
As for me and my wife, we’re simple shoppers. We’re happy any way you want to go. We do some shopping on-line; we’re also happy to visit the local stores (as she did today). We don’t need glitz and pizzazz. We just want good merchandise at a fair price.
Oh, and a local Macy’s, please.
JG
Originally posted 1/16/2014
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