What to Do When Losers Tell You to Stop Hanging Out at the Mall: Advice for Former J. C. Penney C.E.O. Ron Johnson | Vanity Fair

Ron Johnson—businessman, not United States senator—was deposed yesterday from his position as J. C. Penney C.E.O. Engendering the ouster, CNN reports, was “a [Johnson-led] series of new initiatives—including overhauled prices, redesigned store layouts, and even free haircuts for kids—in an effort to revitalize the company. He ditched older brands and announced plans to to eliminate checkout counters in favor of mobile and self-checkout. The results, however, were dismal. The company has been suffering steep losses, bleeding $427 million in the fourth quarter as sales fell 28 percent versus a year prior.”

via What to Do When Losers Tell You to Stop Hanging Out at the Mall: Advice for Former J. C. Penney C.E.O. Ron Johnson | Vanity Fair.

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