J.C. Penney CEO tries to change the way we shop
NEW YORK – J.C. Penney CEO Ron Johnson seems unfazed that the department store chain's mounting losses and sales declines have led to growing criticism of his plan to change the way we shop. Perhaps that's because this isn't the first time during Johnson's 30-year career that he's attempted what seemed impossible.
People predicted he'd fail at selling high-end housewares and designer dresses at discounter Target, but shoppers still flock there years later for cheap chic goods. Likewise, almost no one believed that the Apple stores he designed to sell the consumer electronics giant's gadgets would make money. Yet Apple's retail operations have become the most profitable in the industry.
At the time, both decisions seemed radical. Now, they each are viewed as strokes of genius.
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