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Thursday, January 26, 2012 – Daily News J.C. Penney gets rid of hundreds of sales NEW YORK (AP) — J.C. Penney is perma- nently marking down all of its merchandise by at least 40 percent so shoppers no longer have to wait for sales to get bargains. Penney said Wednesday that it is getting rid of the hundreds of sales it offers each year in favor of a simpler approach to pricing. Starting on Feb. 1, the retailer is rolling out an ''Every Day'' pricing strategy with much fewer sales throughout the year. The plan, the first major move by Apple exec- utive Ron Johnson since he became Penney's CEO in November, is different from Wal-Mart's iconic everyday low pricing. Unlike Wal-Mart, Penney's goal isn't to undercut competitors, but rather to offer customers more predictable pricing. ''Pricing is actually a pretty simple and straightforward thing,'' Johnson told the Associat- ed Press during an interview ahead of the announcement at the company's Plano, Tex. head- quarters. ''Customers will not pay literally a penny more than the true value of the product.'' Penney's plan comes as stores are struggling to wean Americans off of the profit-busting bargains that they have come to expect in the weak econo- my. The move is risky, though, because shoppers who love to bargain-hunt may be turned off by the absence of sales. ''The big question on investors' minds will be: 'How customers will react to a single price point versus a perceived discount under the old strate- gy?''' says Citi Investment Research analyst Deb- orah L. Weinswig. Here's how Penney's pricing strategy will work: — Sale prices become everyday prices. The company will use sales data from last year to slash prices on all merchandise at least 40 percent or lower than the previous year's prices. So, a woman's St. John's Bay blouse regularly priced at $14.99 could have the ''Every Day'' price of $7. — Fewer sales. The retailer will pick items to go on sale each month for a ''Month-Long Value.'' For instance, jewelry and Valentine's Day gifts would go on sale in February, while Christ- mas decorations would be discounted in Novem- ber. Items that don't sell well would go on clear- ance during the first and third Friday of every month when many Americans get paid. Those items will be tagged ''Best Prices,'' signaling to customers that's the cheapest price. — New tags. The retailer used to pile stickers on price tags to indicate each time an item was marked down. But now each time an item gets a new price, it gets a new tag too. A red tag indicates an ''Every Day'' price, a white tag a ''Month- Long Value'' and a blue tag a ''Best Price.'' — Simpler pricing. Penney will use whole fig- ures when pricing items. In other words, you won't see jeans with a price tag of $19.99, but rather $19 or $20. — New advertising. Ads began airing Wednes- day with a shopper screaming ''No'' to discounts as they look in their mailboxes, a pile of coupons and big sales signs. The company also has a new spokeswoman (talk show host Ellen DeGeneres) and logo (a red outline of a box that features JCP in the corner.) And a 96-page catalog will be mailed each month to 14 million customers, along with other promotional efforts. The strategy, unveiled at Penney's investor meeting on Wednesday, comes as the retailer tries to turn around its business. Heavy discounting has hurt department stores like Penney. The group generates an average of about $200 per square foot, less than half the $550 or $600 stores like Victoria's Secret and Lululemon make per square foot, according to John Bemis, head of Jones Lang LaSalle Inc.'s retail leasing team. But Penney has been a laggard even among department stores as its core middle-class cus- tomers have been among the hardest hit by the weak economy. It's also failed to attract younger customers even though its added hip brands like Mary-Kate and Ashley Olsen's teen clothing col- lection called Olsenboye. The stores also have been by Johnson himself describes as ''tired.'' For the 11 months through December, Pen- ney's revenue at stores opened at least a year — an indicator of a retailer's health — rose 0.7 percent, while competitors like Macy's Inc. rose 5.4 per- cent, and Kohl's was up 1.1 percent. Penney post- ed a loss in the third quarter and cut its fourth- quarter earnings outlook after a disappointing hol- iday season when it had to heavily discount to attract consumers. The new pricing caps months of speculation about what Penney's future might look like under the leadership of Johnson, a former Target Corp executive and the mastermind behind the success at Apple Inc.'s stores. Johnson, who joined the company's board in August, already has put his stamp on the retailer. He has tapped former colleagues at Apple and Target to join him at Penney. That includes Tar- get's top marketing executive Michael Francis to be Penney's president. Johnson also is borrowing from the playbook of Apple, which shuns discounting and focuses on selling products and offering services. In December, Penney said it will have home- maker doyenne Martha Stewart develop mini- shops starting next year. And during Wednesday's meeting, Penney executives outlined plans to in the next two years add Main Street, a series of 80 to 100 brand shops in stores similar to the Martha Stewart ones. It also plans to open areas in all stores called Town Square, a place that will offer services and expert advice, similar to Apple's Genius bars. Perhaps the biggest challenge for Penney is to sell shoppers on its new pricing. For years, Pen- ney, like many other stores, has propped up price. The intent: to make it look like shoppers are get- ting great discounts when items go on sale. Penney has been an especially big promoter. Last year, the company, which offered 590 sales events last year, nearly three-quarters of its rev- enue come from merchandise that was discounted by 50 percent or more. That's more than double the retail industry average. According to an estimate by manage- ment consultant firm A.T. Kearney, a typical retailer sells between 40 and 45 percent of its inventory at a promotional price, up from 15 to 20 percent a decade ago. The increased discounting has been a vicious cycle that only feeds into shoppers' insatiable appetite for bigger and better discounts. In fact, whereas it took 38 percent off to get shoppers to buy 10 years ago, it now takes discounts of 60 per- cent, Johnson says. At Penney, the regular price on an item that costs $10 to make rose 43 percent, from $28 in 2002 to $40 in 2011. But because of all of its sales and other promotions, what it actually ended up selling for rose only 15 cents, from $15.80 to $15.95 during that same period. ''I have been struck by the extraordinary amount of promotional activity, which to me, did- n't feel like it was appropriate for a department store,'' Johnson says. ''Once you start to promote, the only way to beat a promotion was to make it bigger.'' Walter Loeb, a New York-based retail consul- tant, says Penney's new pricing is ''visionary'' and revolutionary.'' But Charles Grom, a retail analyst at Deutsche Bank, says it will be difficult for Johnson to change shoppers' buying habits. Macy's, for example, cut back on coupons a few years ago, only to reverse courses after sales fell. Trustee Sale No. 11-00480-2 JV Loan No. 68764988 Title Order No. 989701 APN 037-184-02-1 NO- TICE OF TRUSTEE'S SALE YOU ARE IN DEFAULT UNDER A DEED OF TRUST DATED June 5, 2007. UNLESS YOU TAKE ACTION TO PROTECT YOUR PROPERTY, IT MAY BE SOLD AT A PUBLIC SALE. IF YOU NEED AN EXPLANATION OF THE NATURE OF THE PRO- CEEDINGS AGAINST YOU, YOU SHOULD CONTACT A LAWYER. On February 6, 2012, at 02:00 PM, at the main entrance to the Tehama County Courthouse, 633 Washington St., Red Bluff, CA, Fi- delity National Title Company, as the duly appointed Trustee, under and pursuant to the pow- er of sale contained in that cer- tain Deed of Trust Recorded on June 14, 2007, as Instrument No. 2007010956 of Official Records in the OffiCE) of the Recorder of Tehama County, CA, executed by: CHARLIE DIETZ, AN UNMAR- RIED MAN, as Trustor, in favor of UMPQUA BANK as Beneficiary, WILL SELL AT PUBLIC AUCTION TO THE HIGHEST BIDDER, in law- ful money of the United States, all payable at the time of sale, that certain property situated in said County, California describ- ing the land therein as: THAT PORTION OF LOT "G" OF THE ROSENTHAL TRACT, AS THE SAME IS SHOWN ON THE MAP ENTITLED "MAP OF SUBDIVISION OF A PORTION OF THE ROSEN- THAL TRACT TEHAMA CO., CAL", FILED IN THE OFFICE OF THE COUNTY RECORDER OF THE COUNTY OF TEHAMA, STATE OF CALIFORNIA, SEPTEMBER 13, 1988, IN BOOK A OF MAPS AT PAGE 73, LYING EAST OF THE EAST LINE OF PACIFIC HIGHWAY RIGHT OF WAY U.S. 99W AND SOUTH OF THE TOWN OF PROBERTA, SHOWN ON THE MAP ENTITLED "MAP OF SUBDIVI- SIONS OF THE ROSENTHAL TRACT, TEHAMACO., CAL.", FILED IN THE OFFICE OF THE COUNTY RECORDER OF THE COUNTY OF TEHAMA, STATE OF CALIFORNIA, JULY 14, 1886 IN BOOK "A" OF MAPS AT PAGE 71. EXCEPTING THEREFROM THAT PORTION OF SAID PROPERTY DESCRIBED AS COMMENCING AT A POINT OF IN- TERSECTION OF THE NORTH LINE OF SAID LOT "GO OF THE ROSEN- THAL TRACT WITH THE EAST LINE OF PACIFIC HIGHWAY (U.S. 99W); THENCE EASTERLY ALONG THE NORTH LINE OF SAID LOT TO THE NORTHEAST CORNER THERE- OF; THENCE SOUTH ALONG THE EAST LINE OF SAID LOT "G" A DISTANCE OF 250 FEET; THENCE WEST AND PARALLEL WITH THE NORTH LINE OF SAID LOT TO THE POINT OF INTERSECTION WITH THE EAST LINE OF SAID PACIFIC HIGHWAY (U.S. 99W); THENCE NORTHERLY ALONG THE EAST LINE OF SAID HIGHWAY TO THE POINT OF BEGINING. Beneficiary has elected and hereby elects to conduct a unified foreclosure sale pursuant to the provisions of California Commercial Code Section 9604{a){1)(B) and to in- clude in the nonjudicial foreclo- sure of the estate described in this Notice of Trustee's Sale all of the personal property and fix- tures described in the Deed of Trust and in any other instru- ments in favor of Beneficiary, which property is more particu- larly described as follows: ALL EQUIPMENT, FIXTURES, AND OTHER ARTICLES OF PERSONAL PROPERTY NOW OR HEREAFTER OWNED BY TRUSTOR, AND NOW OR HEREAFTER ATTACHED OR AFFIXED TO THE REAL PROPERTY TOGETHER HOME SERVICES DIRECTORY ACCESSIONS, PARTS, AND ADDI- TIONS TO, ALL REPLACEMENTS OF, AND ALL SUBSTITUTIONS FOR, ANY OF SUCH PROPERTY; AND TOGETHER WITH ALL PRO- CEEDS (INCLUDING WITHOUT LIMITATION ALL INSURANCE PROCEEDS AND REFUNDS OF PREMIUMS) FROM ANY SALE OR OTHER DISPOSITION OF THE PROPERTY. Beneficiary reserves the right to revoke its election as to some or all of said person- al property and/or fixtures, or to add additional personal proper- ty and/or fixtures to the election herein expressed, at Benefi- ciary's sole election, from time id i WITH ALL il h $9900 Blinds Need Blinds? C A L L P A U L Blinds & Draperies www.nsbd.biz Lic.#906022 Landscape/Fence Tractor & Landscape Service Steve's • Fence Building • Landscaping • Trenching • Rototilling • Disking • Mowing • Ridging • Post Hole Digging • Blade Work • Sprinkler Installation • Concrete Work Cont. 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Said sale will be made without covenant or warranty, express or implied, regarding ti- tle, possession, or encumbran- ces, to pay the remaining unpaid balance of the obligations se- cured by and pursuant to the power of sale contained in that certain Deed of Trust (together with any modifications thereto). The total amount of the unpaid balance of the obligations se- cured by the property to be sold and reasonable estimated costs, expenses and advances at the time of the initial publication of this Notice of Trustee's Sale is estimated to be $198,861.33 (Es- timated), provided, however, prepayment premiums, accrued interest and advances will in- crease this figure prior to s,ale. Beneficiary's bid at said sale may include all or part of said amount. In addition to cash, the Trustee will accept a cashier's check drawn on a state or na- tional bank, a check drawn by a state or federal credit union or a check drawn by a state or feder- al savings and loan association, savings association or savings bank specified in Section 5102 of the California Financial Code and authorized to do business in California, or other such funds as may be acceptable to the trustee. In the event tender oth- er than cash is accepted, the Trustee may withhold the issu- ance of the Trustee's Deed Upon Sale until funds become availa- ble to the payee or endorsee as a matter of right. The property offered for sale excludes all funds held on account by the property receiver, if applicable. SALE INFORMATION CAN BE OB- TAINED ON UNE AT www.priorityposting.com AUTO- MATED SALES INFORMATION PLEASE CALL 714-573-1965 DATE January 4, 2012 FIDELITY NA- TIONAL TITLE COMPANY, TRUST- EE TS No. 11-00480-2 JV 11000 Ol- son Drive Ste 101 Rancho Cordova, CA 95670 916-636-0114 Rachel Cissney, Authorized Sig- nature P913790 1/12, 1/19, 01/26/2012 y, Legal Notices Legal Notices LEGAL NOTICE Notice to Area Subcontractors Self Help Home Improvement is a non-profit organization re- questing bids for our remaining 22 lots at our Tierra Del Sol Sub- division in Red Bluff California. We are looking for the following subcontractors: concrete, plumbers, electrician, framers, insulators, drywall. HVAC, stucco and roofing con- tractors. excavation, Call our office at (530) 378-6904 ext. 119 Monday through Thurs- day between the hours of 1:00pm to 4:30pm to get a sched- ule of bid dates, times and loca- tions along with insurance and licensing requirements. 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