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avaistheone1

(14,626 posts) Tue Apr 9, 2013, 01:59 AM Apr 2013

Former Apple retail chief Ron Johnson fired from J.C. Penney [View all]

Source: Fortune

FORTUNE -- Ron Johnson, the former Target (TGT) manager who tried to save the ailing J.C. Penney (JCP) using lessons he learned building Apple's (AAPL) retail empire was fired Monday.

CNBC had the scoop and the Wall Street Journal confirmed it.

But his strategy -- selling boutique brands at fixed prices to customers raised on clearance sales -- failed spectacularly. The company lost $4.3 billion in sales in 2012, including a 28.4% drop in the all-important holiday season.

Read more: http://tech.fortune.cnn.com/2013/04/08/apple-johnson-penney-fired/

Also:

JC Penney ousts CEO Ron Johnson, brings back his predecessor

Ron Johnson was ousted as chief executive of J.C. Penney Co. after a remarkably short and gaffe-filled tenure that succeeded mainly in driving away customers.

Johnson was lured 17 months ago from a top job at Apple Inc., where he was celebrated for pioneering the technology giant's cutting-edge retail stores. But he stumbled badly at J.C. Penney, pursuing an unorthodox upscale strategy that alienated the company's budget-minded base.

http://www.latimes.com/business/la-fi-0409-penney-ceo-20130409,0,329826.story

It's official and thank God! Hopefully this grand iconic American company will be saved.

32 replies

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Former Apple retail chief Ron Johnson fired from J.C. Penney [View all] avaistheone1 Apr 2013 OP

They're definitely going for lower prices, judging by the JCP fliers in my mail. nt SunSeeker Apr 2013 #1

They sure are. Over the last several weeks I have received discount coupons from them for avaistheone1 Apr 2013 #2

Yep. But first they need to raise the price. progressoid Apr 2013 #6

Excellent! Sherman A1 Apr 2013 #3

I wonder if their "Joe Fresh" line protect our future Apr 2013 #4

More likely the Martha Stewart debacle liberal N proud Apr 2013 #5

I know nothing about clothes... Kablooie Apr 2013 #13

LOL! Exquisite description! protect our future Apr 2013 #32

History Repeats Itself bucolic_frolic Apr 2013 #7

Their newspaper ads were enough to put me off. CBHagman Apr 2013 #8

Who could foresee that it could come to this? MannyGoldstein Apr 2013 #9

He made Target great. He made Apple Stores the most copied store in history. onehandle Apr 2013 #10

Jobs made Apple. The rest were just empty suits riding coattails BlueStreak Apr 2013 #18

That's been the speculation today on tech blogs. onehandle Apr 2013 #20

Be that as it may, none of that was Johnson's doing. BlueStreak Apr 2013 #22

From JoeMyGod: mahatmakanejeeves Apr 2013 #11

The really crazy (outrageous / sign of the times) thing is ... BlueStreak Apr 2013 #19

Ackerman is starting to get a lot of attention BlueStreak Apr 2013 #23

To Me RobinA Apr 2013 #12

Maybe he was trying to lure in the hispters DotGone Apr 2013 #17

wonder what kind of eight-figure severance he received for all his good work? frylock Apr 2013 #14

posted upthread, Volaris Apr 2013 #21

Good news nt riqster Apr 2013 #15

Good news for JC Penney. Beacool Apr 2013 #16

It wasn't just a lack of the brands. It was a spooky atmosphere in the store. BlueStreak Apr 2013 #24

Their catalogs had taken on that same minimalist look. NCarolinawoman Apr 2013 #25

I like The Twilight Zone. Beacool Apr 2013 #26

There is another reason for the empty feeling BlueStreak Apr 2013 #27

I would hate to see that happen. Beacool Apr 2013 #28

So do I. I have some friends who depend on JCP for their family income. BlueStreak Apr 2013 #30

Good news. My experience that the changes at JCP were a total flop. Pterodactyl Apr 2013 #29

there are a lot of people who only go to the discounted Racks JI7 Apr 2013 #31