MarketScale Retail 02/11/2019: JCPenney’s Identity Crisis

+ more

 

The struggles of once giant retailers like JCPenney and Sears have been well documented, but what’s behind these massive dips for these companies? This week’s episode of the MarketScale Retail Show takes a look at what’s fueling JC Penney’s identity crisis. We also take a look at Saks Fifth Avenue and ask if they’re immune to market shifts or consequences for bucking the latest trends.

Ending Appliance Sales Is Just the Latest Curve in JCPenney’s Decline

This week JCPenney announced that it’s ditching appliance sales. They’re also making furniture available only via its e-Commerce site and at select Puerto Rico stores. The retailer resumed selling home appliances in 2016 for the first time since 1983. Then-CEO Marvin Ellison saw an opportunity to capture appliance sales from struggling Sears stores. But the experiment didn’t work. Bob Phibbs, the Retail Doctor, says this shift away from appliance sales is just one more chapter in JCPenney’s drama-filled history. Marketscale Retail sat down with the retail sales trainer, author and keynote speaker to discuss.

“The problem is JCPenney no longer knows who its customer is,” Phibbs says.

Is Saks Invulnerable to Market Trends?

Our second feature on this week’s show takes a look at two major fashion trends in the industry: designer bags and designer shoes. On this segment, host Elmer Guardado walks us through Saks’ big changes for 2019 and how some of them go against what market analysts are predicting. Is Saks ahead of the game? Is Saks invulnerable to market shifts? He is going to take a look this decision and how it impacts the industry.

For the latest news, videos, and podcasts in the Retail Industry, be sure to subscribe to our industry publication.

Follow us on social media for the latest updates in B2B!

Twitter – @RetailMKSL
Facebook – facebook.com/marketscale
LinkedIn – linkedin.com/company/marketscale

Latest

Adapt Energy: Rolling Blackouts, Microgrids, and Elevated Energy Automation
April 13, 2021
In February of 2021, Texas went through an energy crisis, with many residents experiencing rolling blackouts. PanTech Design CEO Troy Morgan joined host Tyler Kern to talk about this phenomenon, what rolling Read more
The Right Case Packing Solution – From Off-the-Shelf to Custom, the Right Answer Is Configurable
April 13, 2021
When it comes to case packing, is there such a thing as an off-the-shelf solution? That was the focus of the conversation on this installment of Packed with Pearson. Stuart Cooper, Chief Revenue Officer for Read more
How Fusion Energy and the Sun Provide the Inspiration that ITER Needs
How Fusion Energy and the Sun Provide the Inspiration that ITER Needs
April 13, 2021
The world depends on energy. It has since the dawn of time, and how we capture energy is always changing and evolving. The dependence on fossil fuels has consequences, so many countries are looking for ways to Read more