CNN's Christine Romans examines how missteps by former JCPenney CEO Ron Johnson cost him his job. For more CNN videos, visit our site at www.cnn.com/video/
It's nice to get a CEO gig if you can. This guy came in, fucked everything up in a very short time while making insane money, then got the boot with a golden parachute attached.
I went in to Penney’s several years ago in Jan for the usual white sale and clearances. Gone were the long tables of discounted merchandise in the home department. No usual 20% off coupons this time of year. Gone, gone, gone. I ask the saleslady what had happened. She said the new CEO won’t let them do deep discounts any longer. They send the merchandise back to the company. Gone, gone, gone. Then ... so was I.
u could feed my entire county for years on that smug aholes salary. that is what is wrong with this world how does 1 person make that much money. what does he do that is so special aside from screwing shit up.
I honestly do not understand JC Penney, I went to their website looking for the stuff I’d usually buy, jeans and sweaters, t-shirts… the prices were outrageous, more expensive than Macy’s, sky high compared to Old Navy or Marshall’s. And the worst thing is their homepage which is either a 1040 IRS form or a website, i can’t tell, there’s so many numbers and percentages smattered across it. You know, maybe some people are swayed by “20% OFF!!!!” but I’m more swayed by “Clearance - Now $19.99 was $69.99” even if it’s a lie.
WIth coupons you usually pay more, because they 'hike' the price and then put it 'on-sale', where-as an "everyday low price" model typically ensures that you always pay a 'sale' price. Please see what JCP is doing now. Hiking prices and then putting them on sale, and if you look at the everyday low price, it's sometimes even lower than the sale price.
no one goes to jcpenny because it skews old-fashioned. macys is much more sexy in terms of the look of the store and the merchandise. dillards carries a lot of hot brands. jc penny does neither of these things, which is why it is failing. i dont expect their sales to get better unless they make some big changes just as that CEO tried to.
