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JCPenney Renovating All North Texas Stores

Ridgmar Mall Alliance Town Centre Northeast Mall The Parks in Arlington Retail Department Stores Renovation Shopping Malls

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#1 John T Roberts

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Posted 28 December 2012 - 02:38 PM

In looking at all of the databases online for permits, I noticed that starting on January 1st, JCPenney was going to be renovating the Ridgmar Mall store. They are spending about $1 Million on the renovation. I did a little more research and I found out that they are also spending the same amount of money on the store in Alliance Town Centre. The Alliance store is almost brand new. Upon further research, I discovered they are renovating all of the stores in North Texas. They are spending between $500,000 and $1.6 Million on each store. They will be putting in new finishes, a few new partitions, and LED lighting.

#2 hannerhan

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Posted 28 December 2012 - 02:44 PM

Yes this is all part of the turnaround plan for the company.  Even stores that opened within the past 5 years do not currently match the new clustered mini-store look that Ron Johnson is going for.  It will be a good thing for Ridgmar, assuming JCP can execute the plan without going bankrupt in the next 2 years.



#3 John T Roberts

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Posted 28 December 2012 - 03:00 PM

I just added up all of the renovations and they come to $17,653,000. That is a large amount of money. This number is for renovating 25 stores. I could see how the company could go bankrupt just doing these renovations. However, I think it will be good for the Ridgmar store. It has been looking dated on the interior for quite some time.

#4 John S.

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Posted 29 December 2012 - 02:03 PM

JC Penny was featured as "one of the brands that could disappear in 2013" in a recent Yahoo article. So, to survive, its obvious the venerable brand will have to change and adapt to today's changing tough retail environment. I saw a TV article about the ubiquitous "Dollar Stores" popping up around the country and they are expanding rapidly with high volume sales as large former discount brands are trying to upscale. The bottom end of the retail sector appears to be the fastest growing these days.  It points to the fact that a large segment of the American buying public is tightening its purse strings as clouds appear on the economic horizon, in my opinion. Couple that with a de facto unemployment situation that I feel is much worse than official statistics indicate and cheap is the new market normal. Having said that, I've always felt JC Penny represented a good value well balanced between quality and cost. In other words, their products were better quality than low-end bargain brands without having to pay luxury brand prices. The question is whether their traditional middle-class customer base is shrinking to the point where profitability is disappearing. No amount of store remodeling or clever sales' gimmicks can overcome that situation, if its true.



#5 researchfrog

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Posted 01 January 2013 - 03:00 PM

JCPenney, like many other retailers, is probably also taking advantage of favorable Treasury regulations issued a year ago that allow retail refreshs and image upgrades to be expensed (instead of capitalized and depreciated).







Also tagged with one or more of these keywords: Ridgmar Mall, Alliance Town Centre, Northeast Mall, The Parks in Arlington, Retail, Department Stores, Renovation, Shopping Malls

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