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Old 15th April 2013, 12:58 PM   #2
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Join Date: Jan 2013
Location: NJ
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Originally Posted by AngelBiz View Post
By now, most in the business community have heard about the ouster of Ron Johnson as CEO of JC Penney after only 17 months on the job. This was a stunning reversal of fortune for Ron Johnson who was regarded as retail Guru based on his accomplishments in transforming Target to “Cheap Chick” retailer and hugely successful launch of Apple Stores. When he was hired at JC Penney he was viewed as a savior who would rescue JC Penney from the downfall it was experiencing for several years.

However, things have not turned out to be that way. In 17 months JC Penney has been in complete turmoil. Sales in 2012 declined 25% compared to prior year representing a staggering $4.3 Billion in lost sales. In 2012 it recorded loss of $1 Billion. No other company has seen such a precipitous loss of value in this short time. So, what went wrong and what lessons can small business owner learn from this?

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One thing that can be learned is that business does play a factor in business. Ron Johnson was successful at Target because he was at the right place at the right time.

Sometimes, even if you are a "guru", you cannot turn around a company that is already a sinking ship.

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