JCPenney Exec Delivers Candid Assessment Of The Company's Turnaround Strategy

Business Insider

JCPenney's big turnaround has been failing, with sales down 32 percent last quarter. 

Last year, CEO Ron Johnson laid out a revival plan that included boutique-style shop-in-shops, a "fair and square" pricing strategy that eliminated sales, and fancy marketing. 

But Nick Wooster, the brand's SVP of product development and design, had a more straightforward idea for how the brand could become "America's favorite store." 

"I’m going to get in trouble for saying this, but [we need to] make cute shit,” Wooster said according to Women's Wear Daily. “If we have compelling product, people will come into the store. I firmly believe that’s the job of merchants. Am I done yet?”

The company has started releasing better products recently, such as its well-received Joe Fresh line.

Wooster's perspective is refreshing. 

Product is king in retail, and flashy marketing and gimmicks will only get the company so far.  JCPenney needs superior product to get customers back in stores. 



More From Business Insider

Rates

View Comments (1)