In late 2011, JCPenney hired away Apple retail chief Ron Johnson to serve as CEO and reinvigorate the company after two years of declining revenues. But now The New York Times reports that after over $4 billion in lost sales and a year of failed
He went back-and-forth on company advertisements and whether to include prices, and by fiscal 2012, J.C. Penney saw its sales drop by $4 billion. The company's stock currently starts around $14.55 — about half of what it was valued when Mr. Johnson
In late 2011, JCPenney hired away Apple retail chief Ron Johnson to serve as CEO and reinvigorate the company after two years of declining revenues. But now The New York Times reports that after
Under Johnson, J.C. Penney Co. (JCP) began a turnaround strategy that included getting rid of coupons and most of its sales events to focus on "everyday low prices," bringing in hipper brands such as Joe Fresh and Betsy Johnson and renovating outdated
JCPenney CEO Ron Johnson did not receive a bonus or stock award for 2012, trimming his annual compensation significantly from 2011's $53.3 million.
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JC Penney surges as stocks slump. Huh?
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