Desperate JC Penney CEO Thinks Changing Company’s Name To Walmart Will Boost Sales

JCP

It looks busy inside. The scheme looks like it is working.

New York-Offering free haircuts in the same department store where you will soon be able to take a load off and have a cup of joe might not save sales and profits of JC Penney, so new CEO Ron Johnson is (once again) thinking outside the box.

Hoping he could do for Penney’s what he did as an executive at Apple, Johnson was brought in as CEO late in 2011 to revitalize the company. But so far, his ideas of a new pricing scheme and the resulting commercials have only confused and driven away longtime customers, dragging down both sales and the company’s stock price, which is down nearly 50% since he was hired.
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