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J.C. Penney Company, Inc. : surviving the Ron Johnson (CEO) era

Author: Alan N Hoffman
Publisher: London : SAGE Publications Ltd, 2017.
Series: SAGE Knowledge., Cases.
Edition/Format:   eBook : Document : EnglishView all editions and formats
Summary:
Ron Johnson, the architect behind Apple's wildly successful retail stores and 15-year Target veteran, became American department store chain J.C. Penney’s new CEO in November 2011. The owner J.C. Penney had high hopes for Johnson, who proceeded to make drastic changes to the company including a new logo and a new spokesperson (Ellen DeGeneres). His vision included transforming 700 of the largest J.C. Penney stores  Read more...
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Genre/Form: Electronic books
Case studies
Additional Physical Format: Print version:
Hoffman, Alan N. (Alan Nathan), 1954-
J.C. Penney Company, Inc.
London : SAGE Publications Ltd, 2017
(OCoLC)1017727731
Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Alan N Hoffman
ISBN: 9781526427489 1526427486
OCLC Number: 1112505262
Notes: Originally Published InHoffman, A. N. (2014). J.C. Penney Company, Inc.: Surviving the Ron Johnson (CEO) era. Rotterdam, Netherlands: Rotterdam School of Management, Erasmus University.
Description: 1 online resource (1 online resource) : illustrations.
Series Title: SAGE Knowledge., Cases.
Responsibility: Alan N. Hoffman.

Abstract:

Ron Johnson, the architect behind Apple's wildly successful retail stores and 15-year Target veteran, became American department store chain J.C. Penney’s new CEO in November 2011. The owner J.C. Penney had high hopes for Johnson, who proceeded to make drastic changes to the company including a new logo and a new spokesperson (Ellen DeGeneres). His vision included transforming 700 of the largest J.C. Penney stores into collections of some 100 branded shops with a central “town square” gathering area for services. Johnson planned to implement a simplification of the company’s pricing strategy including a reduction in the number of times prices were marked down. Johnson knew that transforming J.C. Penney's 1100 department stores nationwide would take considerable time and effort, and that changes would also involve jobs cuts, including nearly 1,000 employees at its headquarters, and closing one of its three call centers. J.C. Penney fired Ron Johnson after just 17 months, following a disastrous decline in business directly attributable to the failure of the new business plan. Ex-CEO Mike Ullman then rejoined the company and was charged with stabilizing the retail chain, which was in a free fall after racking up almost a billion dollars in losses in 2012 as revenue plunged nearly 25%.

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