"The early bird catches the worm," as they say, and
J. C. Penney Company Inc.
) will open its stores at 8 p.m. on Thanksgiving evening,
Associated Press reported. This holiday season, the company
intends to draw shoppers who start early and seek attractive
deals. The move is a strategic attempt by the department store
retailer to take a more competitive stance against its
brick-mortar and online rivals.
) also recently announced its plans to open its doors on
Thanksgiving Day for the first time. Other retailers that count
upon a similar game plan include
Wal-Mart Stores Inc.
). Retailers need to be 'hawk-eyed' this holiday season to make
the most of it. They need to capitalize on every opportunity as
and when they arise, and try to attract cautious,
budget-constrained consumers to the stores as the season may be a
What further makes this holiday season challenging for
retailers is the time frame, as 2013 presents only 25 days
between Black Friday and Christmas as against 31 days last year.
Moreover, retailers, which witness more traffic during weekends,
will have only 4 full weekends this time around versus 5 in
We believe retailers will leave no stone unturned to tap this
holiday season. Be it early-hour store openings, promotional
events, free shipping on online purchases or heavy discounts,
retailers will try all tricks to boost sales.
Earlier, J. C. Penney holding a Zacks Rank #3 (Hold) stated
that it will deploy approximately 35,000 temporary staff members
to better serve its patrons.
J. C. Penney has been in troubled waters for quite some time,
and has been grappling with waning revenues and higher losses.
The company has not shown any signs of recovery in the recent
past. Shares of this beleaguered S&P 500 retail chain
operator have nosedived 64.7%, since the beginning of the
In a significant development, the company's board of directors
in Apr 2013 discharged the Chief Executive Officer (CEO) Ron
Johnson of his duties after 17 months, as his ambitious
transformational ideas failed to materialize. Consequently, the
company's former CEO, Myron E. (Mike) Ullman, III was reinstated
in his post.
Since then the company has taken several strategic initiatives
to drive traffic. The company reverted to promotions, which could
be a successful sales driver this holiday season. However,
investors remain cautious about the stock, as the company
attempts to recoup and give itself a major facelift.
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