Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  J C Penney Company Inc    JCP

J C PENNEY COMPANY INC (JCP)
Mes dernières consult.
Most popular
  Report  
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsofficial PublicationsSector newsTweets

Penney To End Commissions For Some In Favor Of Hourly Wages

share with twitter share with LinkedIn share with facebook
share via e-mail
0
05/11/2012 | 01:45pm CEST

(This article was originally published Thursday.)

 
 
   By Karen Talley 
   Of  
 

J.C. Penney Co. (>> J.C. Penney Company, Inc.) is ending the practice of paying commissions to employees in certain departments, a move seen saving the retailer money and furthering its transformation under Chief Executive Ron Johnson.

Company spokeswoman Kate Coultas said the affected workers will be put on hourly wages and that the moves "enable our teams to be even more effective in winning the hearts and minds of our customers."

Coultas didn't elaborate.

The moves affect sales staff in fine jewelry, shoes, window coverings, men's suits and some in salon. The changes take effect this month.

"Our new business model requires that we move away from a commission-based environment so that every team member is motivated by meeting the needs of our customers," Coultas said. "Therefore, our commission pay plans will move from a commission-based structure to a competitive hourly rate structure."

The move is the latest store-level change at J.C. Penney, which last week let go an undisclosed number of store staff at its 1,100 locations, many of whom were in supervisory positions. J.C. Penney has also laid off 600 employees at its Plano, Texas, headquarters and an additional 300 will lose their jobs at the end of June when a Pittsburgh call center is closed.

The goal is for a more streamlined operation, CEO Johnson has said, as he tries to remodel Penney from a stodgy department store into an array of shops-within-shops that eschews promotions. Johnson joined Penney in November after heading Apple Inc.'s retail stores.

Signs of how the business plan is doing will be offered next week, when Penney reports first-quarter results.

-By Karen Talley, Dow Jones Newswires; 212-416-2196; [email protected]

Stocks mentioned in the article : J.C. Penney Company, Inc.
Stocks mentioned in the article
ChangeLast1st jan.
APPLE -4.10% 165.72 Delayed Quote.2.11%
J C PENNEY COMPANY INC -4.61% 2.9 Delayed Quote.-3.80%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on J C PENNEY COMPANY INC
04/20J C PENNEY : Herberger's last hurrah
AQ
04/20J C PENNEY : at Foothills Mall celebrates company award
AQ
04/20J C PENNEY : Happening on the Hill - FAMU Leads in STEM, Holds JCPenney Event
AQ
04/20J C PENNEY : to host college Suit Up event at Chapel Hill Mall store
AQ
04/19BON TON STORES : Bemidji Herberger's on the list of closures
AQ
04/18BON TON STORES : Closing of Bon-Ton stores will be 'devastating' for some Pa. to..
AQ
04/18BON-TON : What's next, will more stores close?
AQ
04/17J C PENNEY : JC Penney in Tupelo wins top company award
AQ
04/16BUSINESS NOTES : Local earns CPA license; Toastmasters host contests
AQ
04/16J C PENNEY COMPANY INC : Free Research Report as J. C. Penney’s Quarterly Revenu..
AC
More news
News from SeekingAlpha
04/19Amazon carves out more apparel market share 
04/16J.C. PENNEY : Lots Of Surprise Potential In 2018 
04/13Dead Dividend Stocks Are Just Stocks To Sell 
04/09KOHL'S : The Retail Company Of The Future 
04/02Retail gems amid mall gloom? 
Financials ($)
Sales 2019 12 157 M
EBIT 2019 368 M
Net income 2019 50,0 M
Debt 2019 3 446 M
Yield 2019 1,12%
P/E ratio 2019 15,80
P/E ratio 2020 9,67
EV / Sales 2019 0,36x
EV / Sales 2020 0,34x
Capitalization 910 M
Chart J C PENNEY COMPANY INC
Duration : Period :
J C Penney Company Inc Technical Analysis Chart | JCP | US7081601061 | 4-Traders
Technical analysis trends J C PENNEY COMPANY INC
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 19
Average target price 3,94 $
Spread / Average Target 36%
EPS Revisions
Managers
NameTitle
Marvin R. Ellison Chairman, President & Chief Executive Officer
Jeffrey Allan Davis Chief Financial Officer & Executive Vice President
Therace Risch Executive VP, Chief Information & Digital Officer
Robert Gerald Turner Independent Director
Leonard H. Roberts Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
J C PENNEY COMPANY INC-3.80%910
WESFARMERS LTD-6.57%36 094
AEON CO LTD8.18%16 822
EL PUERTO DE LIVERPOOL SAB DE CV5.31%9 869
RYOHIN KEIKAKU CO LTD4.49%9 715
LOTTE SHOPPING CO LTD--.--%6 942