We’re amused by all of the activity going on surrounding JC Penney (JCP) and its move to an everyday low price offering strategy (EDLP). Their relatively new CEO, Ron Johnson (hired a year ago away from Apple Retail) has been at the helm of some sweeping changes, all designed to get mom back in the store on a regular basis. Media consensus is that the JCP board thought that if Johnson could perform his magic at Apple, then he could do the same for the ailing department store dinosaur.
Not so fast, Dino.
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