He’s “out” - as in, the closet?
Too little, too late unless they totally re-brand in the next week or so and go back to the family friendly store they were.
They chose the gays.
Let the gays support them they have a huge population- right?
Too late. The brand has been tainted and thus the company is toast.
What, Apple’s no discounts, no sales brilliant concept didn’t work out at Penney’s? Surprise!
Ellen Degeneres is also out as the spokesperson. She will be replaced by Richard Simmons.
Well the board should not be held harmless. What were they thinking? That Apple’s coolness translated to JCP dry goods? When he would not move there, they should have canned him.
The board should have hired a Macy, Nordstrom or Neiman Marcus ace. JCP could now become the next Radio Shack. All over, but weak.
I think the saying in industry goes something like this: “If the stock price goes up after you leave, take it personal”.
So they are admitting their culture is Gaycee Penny....
But hey, dude wants to be out. Ain’t nothing wrong with that...
What took JC Penney so long LOL!
I haven’t been in a store since they got rid of coupons they used in LA Liars or Red Plum inserts
If Ellen is still in...... I’m still out
I doubt the company can be salvaged
Pfah.
Haven’t bothered shopping at JCP since they took guns and ammo out of their stores/catalogs. I think that was in the late 80’s.
When I was a kid, you could order M1 Carbines through any of the “big three” catalog retailers - Wards, Sears and JCP.
Now Wards is dead, Sears is on the downhill slide, and JCP is circling the drain.
I noticed, though, that when they announced that the former CEO would step in again as CEO, the stock went down again. I have no idea what to make of it.
JC Penney Shares Implode After Company Says They’ll Bring Back Old CEO
Sam Ro | Apr. 8, 2013, 5:30 PM | 3,261 | 1
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Shares of JC Penney have gone on a wild ride in after-hours trading on news of turmoil in the executive suite.
At around 5:00 PM ET, CNBC reported that Ron Johnson was out as CEO of JC Penney.
As soon as the headline crossed, shares of JCP spiked by more than 10 percent.
JC Penney had hired Ron Johnson from Apple to revamp its stores in an effort to boost sales. However, his actions were actually followed by plummeting sales. In its most recently completed quarter, same-store sales fell by 32 percent.
Those after-hour gains slowly slipped and then tanked at around 5:30 PM ET, which was when management announced that former CEO Mike Ullman would return as interim CEO.
Here’s a look at the gut-wrenching swing in the after-hours session via MarketWatch:
Read more: http://www.businessinsider.com/jc-penney-shares-explode-higher-2013-4#ixzz2PvGBT8cw
The fact that Johnson is "out" is nothing more than a pseudo reason for the high speed trading systems to drive the stock up to draw investors back in... only to drop after those same high speed traders take their profits a short distance down the road.
The new CEO has got to come in like gangbusters with guns blaring if they want to bring some life back to this company.
Full-on media blitz, as if your life depended on it- because it does for JCP
New direction, FIRE Degenerate, beg for a chik-fil-a response
We’ll see how things fare in the long-term. There’s little doubt Johnson was a terrible CEO, but the reversal may be short-lived.
I honestly don’t think Ellen or the gay agenda thing was the major downfall of JCP. It probably hurt some, but you also see companies who are far more amenable to the demands and notions of the gay agenda (like Coca-Cola) who turn huge profits. So I think it runs deeper than that.
I really think it was primarily a combination of the elimination of sales and coupons, along with a perception in some quarters that Penny’s is an ‘old person’s store’. I don’t know how deep the latter runs, but my nieces and nephews tell me that is the general perception among the under-30 crowd in our area.