Never have I seen so much bad news about a company I really like. I think Ron Johnson, president and CEO of J.C. Penney, is a capable strategist. His idea to streamline the company and reduce sales is admirable. While his instincts may have been right, his guidance of the operation has been flawed. For starters, he never tested his merchandise pricing concept prior to putting it into action. Now the news is getting very bad, which will only make matters worse for the future of the company. Bad news begets bad news. Here are some recent observations:
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J.C. Penney to leave Martha Stewart label off certain lines
January 29, 2013
From Chain Store Age
New York -- J.C. Penney will leave the Martha Stewart name off some of its upcoming décor and housewares lines despite the pair’s multi-million dollar partnership, according to a Tuesday report by the New York Post.
Citing unnamed sources, The Post said...
J.C. Penney bringing back sales
January 29, 2013
From Toledoblade.com
Penney brings back the big discounts it ditched last year in a bid to woo back shoppers
NEW YORK — J.C. Penney is bringing back sales.
The struggling department store chain this week will begin adding back some of the hundreds of sales it ditched last...
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