J.C. Penney CEO Ron Johnson is going all in with his bid to remake the customer experience at the century-old department store retailer. A mobile point-of-sale deployment beginning this fall is just the first step in an ambitious plan involving storewide use of RFID to eliminate traditional cash wrap stations, allowing anywhere, anytime checkout, including self-checkout, by 2014. "J.C. Penney will be moving to a 100 percent [item-level] RFID implementation by Feb. 1, 2013," said Johnson, speaking last week at the
Fortune magazine Brainstorm conference in Aspen, CO. "We'll be doing something that no other retailer has done completely."
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J.C. Penney Sells Real Estate Stake in Simon, Unveils In-Store Shops
July 24, 2012
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J.C. Penney said Monday it's raised $248 million and taken its first step toward shedding noncore assets by selling off part of its stake in a Simon Property Group unit. Following the transaction, the real estate unit for Penney — JCP Realty — will hold about 205,000 limited partnership units in Simon’s operating partnership. Also on Monday, J.C. Penney CEO Ron Johnson unveiled a trio of in-store shops, slated to open at 683 J.C. Penney stores across the United States starting on Aug. 1. The three in-store concepts all feature denim offerings.
A Store Without a Checkout Counter? J.C. Penney Presses on With Retail Revolution
July 20, 2012
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Thus far, the dramatic makeover of J.C. Penney has hardly been smooth sailing. The overhaul, in which coupons and nonstop sales have been replaced with lower everyday prices, has resulted in confusion among consumers and months of subpar sales, as well as the recent ouster of a top executive. Nonetheless, J.C. Penney CEO Ron Johnson is sticking with the plan to revolutionize a tired old brand — and perhaps retail as a whole. Speaking at the Fortune Brainstorm Tech conference, Johnson, a retail superstar who spent years building up Target and the Apple Store, made one eye-opening comment after another.
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