Dive Summary:
- After a year of name changing, a new pricing strategy and in-store merchandise placement, JCPenney became the most interesting retailer of 2012 — for all the wrong reasons.
- In what was supposed to be a multi-year plan to turn around the struggling retailer, JCPenney began with a failed attempt at fair and square pricing.
- The worst windfall from CEO Ron Johnson's new plan were the first three quarters of 2012 which resulted in over a 100% net income decline.
From the article:
"...J.C. Penny wasn’t just the most interesting retailer of 2012, it was one of the most interesting companies, period. Too bad it wasn’t interesting in the way J.C. Penney and its CEO Ron Johnson intended..."
