Did Ron Johnson Wreck J.C. Penney?
We have been following J.C. Penney Company Inc. off and on since 2011 because Bill Ackman had taken a position in JCP and because Ackman was influential in recruiting Ron Johnson away from Apple Retail in order to become JCP's new CEO to succeed Myron Ullman, who was JCP's CEO from 2004-2011. Although we demurred from taking a stake in JCP, we were ... (more)
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#1 May 11, 2013
If JCPENNEY'S is serious about getting their old customers back, they are going to have to stop sending out sale papers with anorexic babies and start selling clothing for the average person. Not everyone is a size 2,and not everyone wants to show every bit of their body short of being totally nude.
#2 May 11, 2013
Well, that would not be cheap chic, now would it? That was Ronnie's plan and you can bet he signed long term agreements for that size 2 stuff, so it aint't going anywher.. LOL, you can see that target group feeding like pigs at a trough at Five Guy's Burgers eating a 3,000 calorie lunch just down fom JCP, give then 8 years. They need to rip out those Conran, Graves and Happy Chic Adler mini shops, but no, they are adding to that horror show. I been in a JCP about 4 times since Ronnie's firing, not to buy anything, I am not wasting my time, just to get to the mall, there seems to be more people shopping only in the rack areas, or that sea of racks, as Ronnie derogatorily called it. These area was full of sale signs about 30 people, up from 1-2. There is no one around those home mini shops. Those mini shops biting into sq footage with less merchandise will bring down JCP. You watch that idiot Ron at JCPmediaroom.com , if they haven't removed it, the idea you can display as much merchandise on walls vs floor space factoring in the 15 foot "streets" was just crazy. Check to see if that hour long dog and pony video is still up at JCPmediaroom. It is insane.
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