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Wednesday, May 18, 2016
Why Is JCPenney Trying To Be More Like Sears, When So Many Sears Stores Are Closing?
In a previous era, JCPenney and Sears competed against each other for sales in just about everything from apparel to appliances to towels and sheets. Gradually, the rivals’ paths diverged somewhat: JCPenney focused on clothing, while Sears lowered its price point to push its core business of tools and appliances. So why, with Sears in the process of closing so many of its stores, is JCPenney once again going head-to-head with its old nemesis by getting back into the appliance game?
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5 comments:
I thought they all closed down. My bad!
Not all J. C. Penney stores closed, the one in Dover is still open. Salisbury is the only town that cannot support stores.
I just found out the other day the JCPenny store at the White Marsh mall is no longer selling furniture. Like sears, they are getting rid of under performing departments to save money. Malls and retail chain stores seem to be in trouble. I wonder just how much longer they will be able to hold on? The media cannot spin this and say the economy is getting better. I know my friends and family are struggling just to get by. Vacations away have become stay vacations, and when we get together, we pool our resources and everyone brings something to the party to help the other person out. The upside to things, is that I feel closer to my friends and family because of this.
Salisbury could always support stores that OWNED their locations vs leasing them.Mall gravitation was ridiculous when the lease costs were unheard of amounts.The current purchase price of a retail business,including land cost and construction = an average of 4 years of paying lease.Any board of directors who choose a mall must be smoking something.
There is also a JC Penney in Easton.
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