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

Delayed Quote. Delayed  - 01/19 10:05:22 pm
6.69 USD   -1.76%
01/19DJHoliday Sales Sap Target -- WSJ
01/19 MACY : Film/Video
01/17 NIKE : Jcpenney underscores commitment to activewear with launch of ..
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector 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 CET

(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; karen.talley@dowjones.com

Stocks mentioned in the article : J.C. Penney Company, Inc.
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on J C PENNEY COMPANY INC
01/19DJHoliday Sales Sap Target -- WSJ
01/19 MACY : Film/Video
01/17 NIKE : Jcpenney underscores commitment to activewear with launch of nike® shops
01/16 IN THE WORKS : JC Penney plans beauty center expansion
01/15 THOM ANDERSON : Sears arrived at a good time for Florence
01/14 J.C. PENNEY INVESTIGATION INITIATED : Kahn Swick & Foti, LLC Investigates the O..
01/12 MACY : Film/Video
01/10 J C PENNEY : What's going into closed J.C. Penney is first of its kind in area
01/08 J C PENNEY : What's going into closed Rancho Cucamonga J.C. Penney is first of i..
01/06DJIn-Store Declines Drag Down Traditional Retailers
More news
Sector news : Department Stores - NEC
01/19DJAPPLE : Amazon, Apple End Exclusivity Deals for Audiobooks -- 3rd Update
01/19DJAPPLE : Amazon, Apple End Exclusivity Deals for Audiobooks -- 2nd Update
01/19DJMACY : Shopping Mall's Woes Ripple Through an Ohio Town
01/19DJAPPLE : EU Says Amazon, Apple End Exclusivity Obligations for Audiobooks -- Upda..
01/19 APPLE : EU antitrust regulators welcome Amazon, Apple audiobook deal
More sector news : Department Stores - NEC
News from SeekingAlpha
01/18 MACY'S : An Undervalued Stock With 30% Upside
01/18 J.C. PENNEY COMPANY : Looks Like Easy Money
01/18 More Severe Pain Coming For Retail Stores This Month?
01/18 Credit Suisse positive on JWN, downgrades for JCP and KSS
01/17 J.C. Penney adds Nike in-store shops
Advertisement
Financials ($)
Sales 2017 12 574 M
EBIT 2017 389 M
Net income 2017 0,20 M
Debt 2017 3 690 M
Yield 2017 -
P/E ratio 2017 -
P/E ratio 2018 12,31
EV / Sales 2017 0,46x
EV / Sales 2018 0,40x
Capitalization 2 063 M
More Financials
Chart J C PENNEY COMPANY INC
Duration : Period :
J C Penney Company Inc Technical Analysis Chart | JCP | US7081601061 | 4-Traders
Full-screen chart
Technical analysis trends J C PENNEY COMPAN...
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 10,3 $
Spread / Average Target 53%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Marvin R. Ellison Chairman, President & Chief Executive Officer
Edward J. Record Chief Financial Officer & Executive Vice President
Therace Risch Chief Information Officer & Executive VP
Robert Gerald Turner Independent Director
Leonard H. Roberts Independent Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
J C PENNEY COMPANY INC-19.49%2 063
WESFARMERS LTD-1.28%35 477
KERING7.88%30 925
AEON CO LTD0.78%12 680
EL PUERTO DE LIVERPOOL..-7.70%9 911
ZHEJIANG CHINA COMMODI..-6.01%6 354
More Results