News Artcle

In remaking Penney, CEO making a mess

Published November 17, 2012

In remaking Penney, CEO making a mess by Andrew Ross Sorkin The New York Times Published Nov 17, 2012 01:01AM MDT You should know you have a problem when sales at your stores fall 26.1 percent in one quarter. That was the surprising decline J.C. Penney reported last week when it disclosed that it had lost $123 million in the previous three months. However, inside the fantasy world that is the executive suite of J.C. Penney, apparently it was just part of the plan. Ron Johnson, the former head of Apple’s retail business who was handpicked to turn around J.C. Penney a little over a year ago, was in full spin ... Copyright 2012 The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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