JC Penney in death spiral from gay-pandering: 138 stores to close by end of April

In 2012, J. C. Penney’s CEO Ronald B. Johnson had the brilliant idea to improve the century-old family store by pandering to homosexuals — a move that, in a time of the decline of brick-and-mortar stores, isn’t smart on the grounds of simple market calculation because homosexuals make up only 2-3% of the U.S. population (see “Something is rotten at J C Penney”):

  • In February 2012, J. C. Penney chose public lesbian Ellen DeGeneres to be the company’s spokesman.
  • In May, the company featured a lesbian couple in its Mother’s Day promotion.
  • In June, the company released a Father’s Day ad depicting two gay men and their children.

Ronald Johnson

Johnson was said “to have a disdain for JC Penney’s traditional customer base.” While head of J. C. Penney, he continued to live in California and commuted to work in Plano, Texas by private jet several days a week. (Wikipedia)

Johnson’s gay-pandering alienated many Christians who, quietly and without fanfare, began boycotting the department store. (I have not stepped foot into a JC Penney since.)

The boycott in turn led to a precipitous drop in the company’s stock performance by as much as -51% from February 2012 till April 2013, when the company fired Johnson, after only 17 months on the job, and apologized to its customers for having made “changes” that they didn’t like.

JC Penney never recovered from the gay-pandering debacle, as seen in this Morning Star graph of the company’s stock performance since 2012 (dark blue line):

On February 24, 2017 in a press release, J.C. Penney Company, Inc. announced it will close two distribution facilities and 138 stores over the next few months, in “a plan to optimize its national retail operations as part of the Company’s successful return to profitability.”

Click here for a list of stores that are slated to close. Most affected stores will begin the liquidation process on April 17.

Rotten CEOs like Ronald Johnson, who no doubt left JC Penney with a “golden parachute,” never pay for their mistakes. Instead, it’s the low-level employees who pay for the CEOs’ mistakes by losing their already low-paying jobs.

~Eowyn

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24 responses to “JC Penney in death spiral from gay-pandering: 138 stores to close by end of April

  1. It’s a common belief of “modern, progressive” companies that diversity is a “growth engine” that’ll bring success and anything “progressive” will generally be better and make them more money… the “Business thought leaders” their leadership listen to (blessed by an MBA or other degree from some Leftism-dispensing university and little or no experience in an actual activity that makes a profit) tell them so.

    Liked by 7 people

  2. What a shame! Penney’s was a great store and the board made a disastrous decision by allowing this lunatic to destroy it. What happened to common sense? Catering to one single group instead of the general population is a guaranteed recipe for disaster for a major retailer. These liberals are a strange breed.

    Liked by 2 people

  3. Pingback: KOMMONSENTSJANE – JC Penney in death spiral from gay-pandering: 138 stores to close by end of April | kommonsentsjane

  4. There is an agenda at play to subvert American Christian culture, and Western values. We see it in every facet of our lives now. It is obviously multi-tiered, and works on several levels, as a simultaneous assault on our minds and souls.The Cultural Marxist devils are so embedded now in the workings of Government, Media, Education, and even Religion, there is almost no chance of being unaffected by it. We are under attack by very powerful and insidious psychopaths, and I am convinced at this point, there is no undoing it. It’s only going to get worse. I pray for all humans, I can only rely on God the Father, and his Son, Jesus.

    Liked by 3 people

  5. J C Penney Stores has gotten just exactly what they deserved. I do feel sorry for the little people who were holding stock in the company. Looking at the closures in Oregon, each of the three stores is located in very small towns, where there is not a huge number of stores of this variety. In the case of The Dalles, OR, those people would have to travel 80 miles towards the Gresham-Portland area, or shop at the dopey Walmart’s up that way. The whole thing is just sad. I wonder if the CEO who was fired has found some other big corporation to bugger up!

    Liked by 2 people

    • I looked Johnson up to see where he was currently working . . . his new venture is at a start-up company named “Enjoy.” I can only hope that Enjoy falls flat on its face!

      Liked by 3 people

  6. What is the financial loss to each stockholder? What is the pay/benefits/bonus loss or increase to each executive?

    Liked by 2 people

  7. Thank you Dr. Eowyn for this most interesting post. As above stated, I also feel very badly for the employees of the many stores Penney’s is closing. May Our Lord help them in this time of crisis.

    Liked by 2 people

  8. Pingback: That didn’t quite work out as planned! – On the Patio

  9. The Penney’s store in the small mall in my small town is on the list. I’m sure all of the employees have already headed over to the unemployment office to sign up for unemployment benefits and get help in finding a new job. It will be awhile before Trump’s economic plan will equate to new/expanded businesses in small communities. At least Spring is coming with the prospect of increasing opportunities for business owners, entrepreneurs and those looking for jobs.

    Liked by 2 people

  10. I remember all that news like it was yesterday. I can’t believe it’s been five years, wow.

    If JCP could not recover over a 3-4 year period since axing Johnson, that’s pretty bad. Either their customers never heard when JCP “apologized,” or, by then they didn’t care & had moved on.

    Was Johnson a homo, or just a stupid Libtard?

    Liked by 1 person

    • At the time of JCP’s gay pandering in 2012, I had looked into who Ron Johnson is and found that he supposedly was married to a woman, although his Wikipedia entry says nothing about his private life.
      https://en.wikipedia.org/wiki/Ron_Johnson_(businessman)

      Like

      • Hey, thanks for that followup re Johnson. Glad to hear he was/is Straight. Too bad his “management style” was the opposite. It cost him & them!

        I just saw this tonight & came back to drop it off. Original source info is Reuters.

        3/23/17: “Sears Enters Death Spiral: Vendors Halt Shipments, Insurers Bail”:
        http://www.zerohedge.com/news/2017-03-23/sears-enters-death-spiral-vendors-halt-shipments-insurers-bail

        The comments are more interesting than the article. Reasons people quit Sears & other sentiments:
        –When they began “pandering to blacks & Hispanics in the 1990’s”;
        –When Craftsman Tools were made in China;
        –When their apparel came from Bangladesh & would shrink after one wash;
        –Sears was the Amazon of its day in 1890 when you could buy ANYTHING from them;
        –Sears messed up by not putting their full catalog online;
        –A recent visitor to a Sears said it was “like a tomb with a death pall… creepy.”
        –Etc.

        Though never a big Penney’s nor Sears shopper (except for a Penney’s bedspread once in awhile, or the Sears Automotive for batteries or car repair), it still feels sad to see such iconic American names dying slow deaths. Fond memories of window-shopping past them with the “old folks” at family reunions as a kid.

        My “conspiracy meter” wonders if the old behemoths were not purposefully sabotaged so that we end up dependent on Jeff Beelzebub.**

        “…For the form of this world is passing away.”
        –1st. Cor. 7:31.

        (**Not of my originality. Saw that name-play elsewhere & cracked up, lol!)

        Liked by 1 person

        • The wife may be a beard, assuming they’re still married. It is noteworthy that although he’s a prominent business executive (he worked for Target & Apple before he went to JCP), there is so little info on his personal/family life.

          Like

  11. leeann Springer

    Hopefully, Target will be next, and Disney too. Play with the devil, and it will be Hell to pay. Leeann

    Liked by 1 person

  12. JC Penny meets the consequences of their foolishness. Let all businesses make note.

    Liked by 1 person

  13. Apparently not even the LBGTQRSTUWXYZ could even rally their base to save this chain.

    DeGeneres even started competing against JC Penney when she launched her QVC home collection in 2014.

    Liked by 1 person

  14. Long time ago shopping at JC Penney was the store we all wanted to go. It declined and refurbished. JCP catered to a younger generation, prices accessible and as always quality merchandise. Competition around the corner and the progressives have been the culprits in JCP’s demise.

    Liked by 1 person

  15. I’m sorry to see J.C. Penney go; It was one of my favorite stores. Obviously, the political ideology is a real turn-off for the public. Ditto Starbucks, which I WILL NOT miss if it goes.
    But a retail insider I drove in my Uber told me the news: The retail apocalypse is coming. Many chains, including Target, K-Mart, Macy’s and Nordstrom’s will be up against hard times.
    And it’s not just the economy that’s pressing hard against these retail giants: The demographics of the entire world are changing. I believe that a correlation can be drawn showing that contraception and abortion have steered these demographic changes, and that the CEO’s of these chains are the “victims of their own success,” as it were.
    Starbucks is riding a wave right now, but it shall prove to be a most TEMPORARY wave. Starbucks, you’re going down, too. I’d give S.B. about another four years. Save my response here and check it against four years hence.

    Liked by 1 person

  16. It is pretty amazing with only about 3% of the population being gay, that so many hold so many high positions in just about every venue there is.
    We used to love Penney’s, but when they turn left, we went right. With so much damage done to so many chains, you would think someone would catch on.
    The Penney’s here was one of the busiest I had ever seen. You couldn’t stir the customers with a spoon there were so many. And of course, they closed. If it was a higher rent problem, they must not have read Trump’s book. The Art of the Deal. Covering so many sq feet and floors. They should have had some leverage.
    More big businesses will close. Places like Amazon is killing them. Just on our street alone, there are dozens of boxes from them daily.

    Like

  17. The J C Penney Board of Directors have reaped what they sowed. For the last 2 decades they have continually brought on board CEO’s who have left a weaker company than what they joined. Social Justice has replaced ‘Profit/Loss’ statements and I will bet ‘dollars to donuts’ that the family foundation still holds sway in the boardroom.

    Like

  18. Last time I set foot in a JC Penney it was to take a shortcut to my car at the mall – and that was probably 25 years ago.

    Like

  19. Pingback: JC Penney in Death Spiral From Gay-Pandering: 138 Stores to Close by End of April | The Olive Branch Report

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