2013-03-16 12:06:02 - Fast Market Research recommends "J.C. Penney: A Transformation" from MarketLine, now available
Ron Johnson joined J.C.Penney and transformed the company with seven key areas of focus: personality, price, promotion, product, presentation, place, and people. Johnson aims to save $900m by 2013. J.C.Penney has experienced consecutive decline in the first three quarters of 2012.
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Ron Johnson, former Senior Vice President of Retail Operations at Apple Inc., helped transform the company's retail operations. Apple is now the "most valuable company in history" in terms of market capitalization.
Ronald B. Johnson became the Chief
Executive Officer for jcp in November 2011. In February 2012, Johnson announced, "while 2011 was a year of transition at jcp, 2012 will be a year of transformation". jcp aims to save $900m by 2013, focusing on seven key areas of focus: personality, price, promotion, product, presentation, place, and people.
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Your key questions answered
* How has Ron Johnson transformed J.C. Penney?
* How have the changes made to J.C. Penney affected their sales?
Report Table of Contents:
J.C. PENNEY: AN OVERVIEW
J.C. Penney is a department store retailer
J.C. Penney was founded in 1902
J.C. Penney experienced decline in 2011
RON JOHNSON: AN OVERVIEW
Ron Johnson has previously worked at Target and Apple
J.C. PENNEY WAS TRANSFORMED IN 2011
Ron Johnson joined the company
jcp aims to save $900m by 2013
jcp is in the process of transformation
Personality: the jcp brand has been revitalized
Price: pricing has been simplified
Promotions: events will be cut down
Product: jcpenney will revitalize existing products and introduce new ones
Presentation and place: jcpenney aims to improve the customer store experience
People: jcpenney wants to become America's favorite store and workplace
JCP HAS EXPERIENCED LOSS IN THREE CONSECUTIVE QUARTERS IN 2012
In the first quarter of 2012, comparable store sales declined by 18.9%
In the second quarter of 2012, total sales declined by 22.6%
In the third quarter of 2012, internet sales declined by 37.3%
jcp has experienced significant decline in 2012
Johnson remains optimistic that jcp's sales can be turned around
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