“They rose almost 11 percent late Monday after Penney
confirmed it had ousted Ron Johnson as chief executive, but the stock slid when
the company said Ullman was back.”
“Ron Johnson was running Apple’s stores, which had the
highest profit per square foot of any retail chain in America. Sure he would
bring the Midas touch to JC Penney they gave him a $50M sign-on bonus and
complete latitude to do as he wished. “
Why’ll Ron Johnson was CEO at JCP for a whole 17-months, he
made the store tank. He may have been very successful at Apple, but it seems
clothing is not his expertise. He was so successful that he had the highest
profit per square foot. So, JCP decided to sign him on and because of this the store
may not recover from this hit. Over 111 years of JCP and the store may be over.
So when JCP got rid of Ron, profits went up, until they brought Ullman back.
“He intends to return to JCP’s legacy, buy more newspaper
coupons, and keep doing more of the same.”
I think that a good way for JCP to get on top is to bring in
some new fresh designers that everyone love, but sell the products at the
lowest end cost they can go. Like bring in knock off items that look lovely.
Possibly get some new and fresh clothes, and especially new, fresh, and outstanding
advertisements that are kid friendly, so that when kids watch shows on nick and
Disney they will see their favorite stars where amazing clothes sold at JCP.
Also they should take shows that every adult watches and do the same, like have
Miley Cyrus on Two and a Half Men go shop at JCP. Or even have Project Runway do
a episode where they use JCP items and reinvent them and then the top two
products designed be sold at their store. It would bring a lot of publicity and
sky rocket sales.
Sources:
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