Find it, get it, make it worth it: JCPenney's three-part revival strategy
Stephen WhitesideWarc
JCPenney had committed the cardinal sin for any department store: falling out of fashion with shoppers.
Under the leadership of Ron Johnson – previously Apple's svp/retail – from November 2011 to April 2013, the chain scrapped discounts and promotions, instead prioritising everyday low prices and the housing of new brands in dedicated "mini stores".
In response, patrons abandoned the company in droves, yielding $4 billion of lost revenue in 2012 … as well as Johnson's subsequent removal.
"We shifted our strategy; got away from...