The one company that surprised everyone and emerged as one of the Black Friday winners is J C Penney Company Inc (NYSE:JCP). It is notable the company made it to the holiday shopping season of this year. There were numerous participants who had projected it would not survive disastrous spell under CEO Ron Johnson, which finished with his firing in 2013.
Under ex-CEO Mike Ullman, who returned to the post he once gave to Johnson, the retailer firm found stability. And now under guidance of Ullman’s successor, Mr. Marvin Ellison, the retailer entered Black Friday being included as the best retailer for offering Black Friday deals.
Offering cheap prices seemed to have reaped benefits for J C Penney in the short term, as Forbes mentioned numerous social media pictures of queues at J C Penney outlets as well as buyers posting positive comments for the deals being offered. There are ways which makes the retailer a winner and it indicates positive signals stating the company may have turned a corner and made its place in the retail industry.
The retailer was determinedahead of holiday season and placed the right foot in respect of attracting shoppers, providing the biggest average savings of mainstream retailer: 68% off, compared to 56% and 50.1%, respectively at peers Macy M and Kmart. Also, the retailer was in the list of companies that started the sale at 3pm on Thanksgiving Day. The extended hours appeared to have little impact on the queues forming across the nation, as stated on social media platforms.
From Thanksgiving afternoonto early that evening through to Black Friday, J C Penney Company Inc (NYSE:JCP) attracted customers in its droves, forming lines that snaked around blocks and buildings. Crucially, many Facebook posts and its counterpart,Twitter highlighted these news followed by positive news that the wait was worth it.