And so you have hit the problem, Ron talks out of both sides of his mouth but only means one thing which he states, that ego of his showing, this from a middle aged man, "JCP isn't for old ladies anymore.". This statement should have gotten him his walking papers but at an upfront 52 million to get this yoyo, about $4,000 per hour, tough to fire someone you got that much money in. Here is an idea, when these wonder boys, in open shirts, no tie, Faux looking like your best buddy,living out that Steve Jobs look, you hold back this money, like you would do in a home construction remodeling job, and pay out small percent as the work is done to your satisfaction, to cover labor, materials, what profit is built in.
Getting back to his old lady statement, what he means is JCP isn't for mid America, heartland, aka people with common sense, or people in urban areas that have reached that mature age of about 30 where it sinks in you have a wife, 2 car payments, bank owns your home for the next 30 years, retirement worries, gas, food, kids to soccer, baseball, etc. JCP is filled with throw away, pricey cheesy faux chic clothing, something you will look ridiculous in 3 months, because the only reason it looked good was because some other clown was wearing it. It is call magazine fad, you know, just like your mother someone has to tell you what to buy, wear, vs long term style. Be very carefull about " made for", "Limited Edition" designer brands that Ron seems to be in to. Question a brand carrying $1,200 MSRP but only $100, not on clearance, or a sale price. Go to Nordstorm if your wallet can stand the strain, comparing the quality, you will see why Nordstorm doesn't sell that "made for" sub-brand.
Those big box places that look like warehouses do the same thing on electronics, you will find brand name printer but the model number will have an extra letter, number at the end, tells other retailers it isn't a standard product, the printer will have plastic gears vs metal, to give to that $20 off, some bargin isn't it. Good luck on that designer bargin, but given the small window it will be in style, maybe it will hold up.
The biggest no no, was to bag old in house brands, this is a very tough brand to get a following, but once had, carries a store. Because it is in house, JCP can offer, or used to offer, at a true savings because they don't have to pay some over the hill, jailed released, celebrity, to keep up her life style. Making what is left of house brands under a JCP label is another tick of Ron's allows Ron to bag within that group what he wants, which seems to mean replacing it with thin, cheap, chinese, design produces and manufactured of lower quality. Many retailer wished had numerous in-house brands that have become solid, fixed, good producers, this comes from a long history of being in business. This is a area you don't want to "milk", devalue, not Ron.
JCP by designed now is stocked on less square footage, less merchandise displayed, Ron says so, take a good hard look at the store, this requires a higher profit per sq foot, Ron says so, this is his goal, ask your self, how to you this? Where does that extra $150 per sq foot given the above over the old JCP.
Hint, the real answer is in your right back pocket, it is called your wallet, you are paying more, either for a product you could easily buy somewhere cheaper under another brand, or that non sale price has a lot more profit built in, hmmm how do you do this? Oh right, cheaper to make, faux MFRS you pressured your suppliers into posting. That is a nice revolution isn't it, too bad no one is buying it.