In a meeting with analysts this week, JCPenney CEO Ron Johnson—the retail superstar famous for making the Apple Store a monster success—proudly showed off a model of the JCPenney store of the future, featuring an assortment …
Ron Johnson
No Sale? Retailers Try to Avoid Deep Discounting Without Losing Shoppers
At some point in recent years, 50% off became the new normal, with shoppers growing increasingly accustomed to dramatic markdowns—and correspondingly unimpressed with a measly 10% off. Stores jacked up list prices so that the …
10 CEOs Trying to Do the Nearly-Impossible
It’s hard to generate much sympathy for people who are making tens of millions of dollars a year. But at least the CEOs we’ve listed here can justify their paychecks by having taken on seemingly impossible challenges.
JCPenney: Simple Pricing Sure Can Be Complicated
When trying to simplify something, the first rule is: Don’t make it more confusing. And yet, while one of the main focuses of JCPenney’s radical retail overhaul is a simplification of pricing, shoppers seem more confused than …
A Store Without a Checkout Counter? JCPenney Presses on with Retail Revolution
JCPenney’s dramatic makeover has led to customer confusion and subpar sales, but the company is sticking with its plan to revolutionize its brand.
More Troubles for JCPenney: Top Executive Departs Amid Sales Slump
Ron Johnson was brought in as JCPenney’s new CEO last year largely due to his experiences with two of the most phenomenal success stories in retail in recent history: Target and Apple Store. What does it mean that Johnson’s …
JCPenney Is Already Going Back to the Discounting Well
The ground-breaking retail makeover of JCPenney engineered by former Apple Store executive Ron Johnson has been rooted in the concept of everyday low prices. Instead of inflating original prices that’ll inevitably be drastically …
Why JCPenney’s ‘No More Coupons’ Experiment Is Failing
The new JCPenney sounds so appealing on paper. Earlier this year, the retailer announced that “fake prices”—inflated big time to make markdowns seem more tempting—would disappear, to be replaced with a “fair and square” …
Maybe Shoppers Don’t Want ‘Fair and Square’ Prices After All
At some level, all shoppers know that a game is being played in every aisle of every store. Original prices, weekly promotions, clearance racks, coupons, Black Friday, blue-light specials, flash sales, oddly specific prices …
One College Slashes Tuition by 22%, Promises No More Silly Financial-Aid Games
Shopping around for a college education can feel a lot like shopping for a new car — in that very few people wind up paying the sticker price. Many colleges set tuition prices with the assumption that, on average, students will pay 33% less, thanks to financial aid and scholarships. But one university has decided its pricing strategies …
In Major Shakeup, J.C. Penney Promises No More ‘Fake Prices’
Less than 1% of J.C. Penney’s revenues come from items bought at full price. By contrast, nearly three-quarters of merchandise sold by the department store chain is discounted by at least 50% off. What this tells shoppers is that …