The 10 Weirdest Things J.C. Penney’s CEO Told Wall Street Last Week
Filed under: Company News, JC Penney, Retail
By Jim Edwards
J.C. Penney just had one of its worst quarters ever: Sales declined 23 percent to $3 billion, same-store sales fell 22 percent, and internet sales sank 33 percent to $220 million.
It’s all the fault of CEO Ron Johnson, who embarked on a disastrous relaunch of the company in January which confused customers and drove them away from stores.
To halt the collapse, Johnson was forced to turn off all its TV ads, cancel a July catalog that was already printed, and scrap July’s…
The 10 Weirdest Things J.C. Penney’s CEO Told Wall Street Last Week originally appeared on DailyFinance.com on 2012-08-13T12:18:00Z.
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