Actually, Bill Ackman isn’t calling the shots as a board member any more. He’s lost his cred about Johnson and he’s being tarred by the other board members and institutional investors for Johnson’s failure. His allies are running away from him now. His enemies are buying JCP debt.
Of course Johnson failed...he didn't know what he was doing in the first place...Penney's isn't Apple...nor is it Target, though we at the store thought he was trying to make us look like Target...too many similarities....But I do think Ackman was the heavy weight for a time, if he isn't now.
What can they do at this point? ....Penney's changed so much they can't go back...and most of the merchandise coming in is “Vogue” style.....or junk...or both....The area we're at is a small country city and the products just aren't attracting the people here who want a more conservative style.... ah hum...or the tramp style. Neither of which they know how to dress their body size.
I came from the High Fashion Industry...trust me this is not going to fly here....but who knows at this point...either way they are staying with the agenda I see.