J.C Penney Company

Assignment on J.C Penney Company By: ABC Date J C Penney Company (JCP) Has Limited Options Company overview It is departmental store retailer of home furnishing, accessories and apparel. Merchandise is divided into several categories. It includes women, men and children apparel, cosmetics, jewelry, leisure equipments and accessories. It has many label brands working privately. Macy’s incorporation and Kohl’s are its competitors. Company was formed in 1992 by James Cash Penny. Its name was J.C Penney Company from 1913-1924. It changed name in 1968 as J.C Penney after reincorporation. It made partnership with cosmetic chain named Sephora in 2006. It launched first brand in 2006 with the name of American Living Brand. Now it has 1060 departmental stores as per 2010. Stocks of company are traded in New York Stock Exchange. Company’s headquarters are in United States. Situation analysis Evercore stated that company has only fewer options. Company has not been succeeding in fulfilling sales targets from last few years. Now, it is taking steps to revitalization. Company is planning for test store. This store will test suitable displaying of products for U.S stores. This store is located in Texas. Company is changing its promotion strategy on stores. Company will separate women and men products. Enron stated that company has changed its displaying style of products. All products now will be easily available to customers. All women accessories has separated including cosmetics, jewelry, cloths and purse. It is stated that margin profits decreased due to high cost and tax rates increased resulting in less revenue. Last earning report of company reported 7.96% losses per share. Researchers were estimating 12 or 15% earning on shares but unfortunately, company had to make adjustments of 2% per share. Sales in some stores fulfilled target of 4%. Revenue increased by 2.9 %. Evercore stated that recovery momentum would be successful for company. Profits will increase. Company has high debts and competitor’s sales strategies are better than J.C Penney. It was stated that asset sales would be good strategy for company to survive. In case of J. C Penney, it has less assets sales available. Management of company is under pressure to survive company with fewer options. As per 31 January 2015, its debt was reported as $5.42 billion and cash was reported $1.32 billion. Now it is challenging for company to choose best option for survival of company. Company should take immediate wise steps to recover expected sales and profit. CITATION Reg15 \l 1033 (Rego)Strategic issue J.C Penney did not achieve expected sales and profits. Losses percentages on shares increased above estimation and it was result of high taxes, cost and low expected sales. Company has high debt and low cash. It has less asset sales available. Problem was with the strategies of company. It has different stores and different customers at each store. Reduction of sales in few stores reflected weak marketing strategies and environmental estimation. Company should concern behavior of customers from different areas. Recommendation It is important to give more concern on stores with fewer sales. Location of stores matter much to attract customers. Different promotional strategies should be adopted to attract customers. Sales should be increase by better marketing strategies. It will reduce debt burden and increase revenue. References BIBLIOGRAPHY \l 1033 Rego, M. (n.d.). JC Penney Company (JCP) Has Limited Options: Evercore. Retrieved March 25, 2015, from VALUEWALK.COM: http://www.valuewalk.com/2015/03/j-c-penney-company-jcp-has-limited-options/

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Category Business-to-Business Marketing
Paper Type APA
Reference Type Assignment
Words 554

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