Why JCPenney’s CEO thinks his turnaround plan will be the one that finally works
Mar 29, 2023
JCPenney CEO Marc Rosen has no intention of adding to the retailer’s 15-year list of failed turnaround attempts anchored in bold, flashy moves. In the late 2000s, it tried to be fashion-forward. That bombed. Then in 2012, the department store ditched the coupons it was famous for to focus on higher-end brands, confusing shoppers and dropping sales by 25%, or $4 billion, in the first year. Some years later, JCPenney reentered the big-ticket home appliance category—and whiffed that too. For years, trying everything and anything was the retailer’s modus operandi. Read more at Yahoo!Life.