The “Ellen” layoffs.
What? You mean all those zillions of gay adorers did not run out to Pennys at Ellen beck and call? I am shocked. They even had an edgy gay CEO to improve the joint with sex kitten back to school outfits!!!!!!
That is a popular misconception.
The reason JCP fell on hard times is it allowed a CEO to trash the hard earned lessons of retailing. He played fruit basket turnover and the basket never righted its self.
The damage was not from the political ellen decision but from plain old bad business.