JCPenney Expanding Its Curbside Pickup Service - Could It Turn Its Fortune?
Like many other retail stores around the United States, JCPenney has been struggling. The company continues to close stores around the country.
The company is announcing an expansion of a curbside pickup service to grow sales. It is also similar to a measure other retailers have used in recent times. But whether the effort will work out well is unclear. JCPenney has been suffering from substantial losses.
The Style on the Go Campaign
The curbside pickup service from JCPenney is called Style on the Go. The effort was tested out in a pilot program. The system will expand to fifty stores around the country.
Style on the Go works in that a customer will purchase a product online and pick it up at a nearby JCPenney location. The effort simplifies the sales process and saves the customer's time.
The customer will call or send a text to a number on a reserved parking sign. The order number will be provided at the next point. An associate will then bring the order out to the customer's car.
The effort is similar to what other retail stores like Target and Walmart have introduced in recent times. The "buy online, pick up in store" strategy has been used to increase foot traffic in physical retail stores. The work comes as online retailers continue to shift the market.
Most of the Style on the Go locations are in Texas, but there will be locations in many other states. Among the sites that will participate in the program including the Bay Plaza Mall in the Bronx borough of New York, the South County Center in St. Louis, and the Florida Mall in Orlando.
Working Alongside New Brands
The Style on the Go system will work alongside a few new brands. The A.n.a. women's denim label will be brought back with a new relaunch. The St. John's Bay Outdoor line of outdoor clothing for men will also be a prominent marketing point. JCPenney also has a partnership with the ThredUp consignment company in a few locations.
Struggles Over the Years
JCPenney has experienced a decline in its performance over the years. As less expensive outlets and online providers have blossomed, JCPenney continues to falter. The company's assets have called to under $10 billion. The company has also dropped from having about 1,100 stores around the United States with 150,000 employees in 2010 to less than 900 stores and 100,000 employees today. The company's net income in the fourth quarter of last year dropped by more than half of the prior year's total.
One of the most dramatic concerns surrounding JCPenney can be seen in its stock value. The company trades under the JCP symbol on the New York Stock Exchange. The stock was worth more than $10 in late 2016. The price has plummeted over the years to well under a dollar.
JCPenney is far from the only traditional retailer who is struggling. Macy's will be closing more than a hundred stores, while Sears continues to have a hard time rebuilding itself.
