Despite dramatic reform and an attempted ‘retail revolution’, JCPenney has yet to make inroads with shoppers.
Will new in-store boutiques and a greater ‘connection with customers’ be enough for a turnaround?
According to BrandChannel …
A year ago today, Ron Johnson, former Apple retailing executive and current JCPenney CEO, outlined his vision for transforming the department-store chain through “Fair and Square” pricing as part of a rebranding and repositioning for the company. But it’s not working.
“Stores and merchandise look great,” noted the retailing writer for the Dallas Morning News.
“But sales have collapsed, and 2012 ended up being a year of one step forward, two steps back” for Johnson.
Or maybe one step forward, eight or ten back.
Johnson has stuck with his plan — and the Penney board has stuck with him.
In addition to a new brand image, and upgrading stores, he has rolled out more branded in-store boutiques from the likes of Sephora, Liz Claiborne and Izod, as well as a Levi’s “Denim Bar.”
As recently as early January, Johnson insisted at an investor conference that Penney’s “marketing is really starting to connect” with customers.
And he predicted that, in 2013, Penney will become “a happening place.”
At the HomaFiles, we’re betting the under on this one.
Edit by JDC