Dan Wegendt | posted Feb 20th 2014
Todd Franko and Mark Sweetwood draw parallels between the recent upheaval in JCPenney's upper management and YSU's presidential search. Dr. Adam Earnheardt explains the power of a presidential brand at YSU.
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I need to respectfully disagree with Mr. Streetwood's opinion that Ron Johnson completely destroyed JCPennys. Pennys was already suffereing declines when he was brought in. He sought to transform the make and image of Pennys. Many of JCPenny's traditional customers hated it - but at the same time those traditional customers were already fading from the company. His problem was that impatient shareholders didnt see improvement fast enough. However, the stores that he remodeled to the 'store within a store' concept was showing higher profit margins, and was beginning to bring in younger shoppers. He couldnt change them fast enough. Now, JCPenny is back to the coupon concept, competing against Kohls, Target, WalMart, Sears, Amazon, and time. Its hard to see how they will be a winner. In the last 30 years, the US has lost its love for true change. Thats sad.
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