I do not like these guys. It is very easy to be an armchair QB, but turning around JCP takes time and patience. Both of which CNBC doesn't appreciate. The recent TV ads for JCP have been outstanding. I am confident RJ will turn it around, but it may be somewhat painful in the short term.
CNBC was mild. The truth is that RJ is history, and the sooner the better. Unless a real merchant steps in and takes over as CEO JCP will probably be a page in history very soon. You must understand, the direction RJ has taken JCP is NOT working.
They have been easy up to now..................nobody was notified of these results................ron johnson surely didn't expect them and the board of directors certainly didn't. With such a slight chance that promotions will get people to buy this format when prices go up...........how do you expect profitability? His vision that clothing on display will sell like a apple computer is nuts.
A real merchant...who has the experience of RJ. Not only did he invent the Apple experience, he also spent years at TGT and helped define their approach to selling high end clothing. I don't think you have a better CEO at this point. I would agree that it is not working now, but the stores that have been retro-fit are growing at a substantial rate. The question is how quickly can they expand those store formats.