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Though it's been hotly debated in retail circles for quite a while, it looks like directors at...

Though it's been hotly debated in retail circles for quite a while, it looks like directors at J.C. Penney (JCP -9.5%) are finally considering a change at the top. If sales don't turn around, a push to sell the company or replace Ron Johnson could be in the offing, according to The Wall Street Journal.
Comments (21)
  • http://bit.ly/Xor8J0
    5 Mar 2013, 03:42 PM Reply Like
  • Long overdue
    5 Mar 2013, 03:50 PM Reply Like
  • In retail, once the "Titanic" starts to go down, it's almost impossible to keep it afloat. In my opinion, this was a suicide mission that Ron Johnson had very little chance of ever succeeding with.
    5 Mar 2013, 11:18 PM Reply Like
  • I have an idea... every Sr. VP & above... GONE.
    5 Mar 2013, 04:14 PM Reply Like
  • oh Santa....you promise?
    5 Mar 2013, 07:06 PM Reply Like
  • Gee, replace Ron so soon? Don't we want to wait until it is truly a penney stock?
    5 Mar 2013, 04:15 PM Reply Like
  • How sad for all those JCP employees who have lost their positions related to Mr. Johnson's transformation of JCP. It is unfortunate he will receive compensation for his mistakes.
    5 Mar 2013, 04:30 PM Reply Like
  • .... and I am one of those loyal, dedicated employees.... forced into retirement "Penny-less". So Sad! I will rejoyce the moment they show him the door, Long Overdue!
    6 Mar 2013, 04:43 AM Reply Like
  • OK, sack Johnson. Then what? Then who? Then what strategy? Mistakes were made, but the place was headed for oblivion before he arrived.

     

    There is no time for this foolishness. Let's say you are crossing the desert on a horse with just enough water for the trip...do you shoot the horse? Or do you hope he delivers you alive?

     

    Once sales comps return to the plus side (even single digits) the stock price will make you wish you bought at 16. Get the thing moving in a positive direction...then sack him if you need to.
    5 Mar 2013, 04:43 PM Reply Like
  • no, the public has no confidence in him. Once he's gone (in a very public way) they will fight to get in the door. America hates this guy.
    5 Mar 2013, 07:07 PM Reply Like
  • I think your horse analogy is questionable since there are objective means for JCP board members to assess if a CEO can deliver. If a CEO of any company is producing results which questions if he or she is competent in his position, how do you continue down this road. Also, how do you justify Mr. Johnson's fifty three million dollar compensation to shareholders base on last year earnings.

     

    While JCP had issues prior to recent changes, ignoring their core customer was the biggest mistake which has resulted in dismal sales. Really, who runs a company and does not know their customers or at least tries to retain them as they try to attract new customers.
    5 Mar 2013, 07:55 PM Reply Like
  • Retailgirl, One thing JCP has going for them is their friendly and helpful sales associate. All I think many customers asked was JCP carry recently discontinued apparel lines even if it was only online like St. John's Bay. JCP had to think these clothing lines were popular since they sold out quickly online (Cabin Creek) when customers found out they were being discontinued. These were brands that were easy to order online and their quality was very good. Money I used to spend at JCP, now is spent at a recently built Kohl's, but I am open to return to JCP if they offer items I purchased in the past even if it is just online. Personally, I am not a huge coupon customer, but I enjoy the coupon for using my Kohl's charge.
    I also wonder why the younger customers have not responded to the changes?
    6 Mar 2013, 05:53 AM Reply Like
  • I never really understood the Johnson hire??? I'm qualified to address this as many of my school clothes were bought at Penney's in the 70's :-)
    5 Mar 2013, 08:20 PM Reply Like
  • JCP should have hired Mickey Drexler, but he probably would have turned the job down. This is a problematic/challenged brand.
    5 Mar 2013, 09:32 PM Reply Like
  • Where`s Persion Square`s Ackman pounding his chest about Jcp being worth over $200 + a sq ft and just wait till the transformation is complete?
    What he meant was I`m a fool gambling with other people`s money and now my reputation is done
    6 Mar 2013, 12:28 AM Reply Like
  • After a year, the company has less than 6 months of cash reserves, Lawsuit ( if lost) could cost Millions in destroyed Inventory, as you know JCPenney's can not sell, give it away, can do nothing but can only burn it.
    To start over without the Board and Johnson would require Chapter 11
    underdog
    6 Mar 2013, 03:20 AM Reply Like
  • He did a great job at Target, Ithink a shop in the store could be very well received by customers.
    6 Mar 2013, 04:31 AM Reply Like
  • As a Retired Employee of JCP, ~NOT BY CHOICE~ Long overdue! James Cash Penney must be doing cartwheels in his grave. Ron Johnson turned a prosperous, successful dream into a nightmare! I shall have a champagne moment when they show him the door, hopefully Pennyless! That Rotten Apple sure screwed alot of Dedicated, Loyal, hard working Americans out of their jobs. Such a pity, he can burn in Hell !
    6 Mar 2013, 04:45 AM Reply Like
  • Has anyone ever seen Ron Johnson in a suit with a tie? Just asking.
    6 Mar 2013, 10:16 AM Reply Like
  • At the Martha Stewart trial. Even the journalist noted he had a suit on.
    7 Mar 2013, 10:35 AM Reply Like
  • JCP where our prices are now a "everyday new low price"
    as opposed to previous sales or discounts!
    The stock that is not the clothes,LOL!!
    6 Mar 2013, 02:46 PM Reply Like
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