Back to Retail 101 for JCPenney
Excerpt
JCPenney’s recent sales results prove that the impact of the Ron Johnson era is still being felt as executives work to reverse the slide. For the first quarter, which ended May 4, 2013, the retailer reported a sales decrease of 16.4% to $2.6 billion. Pricing is still a big issue for Myron Ullman, the returning CEO, but will returning to the basics be the sweet spot for JCPenney?
The retailer announced on April 8, 2013 that Ullman had returned and replaced Johnson as CEO. Many people have been analyzing just what went wrong during Johnson’s 17 months at the helm, and these post-mortems will no doubt be valuable to the old/new regime.