Sales declined 32 percent, customers left in droves, and the company burned through most of its cash.
While JCPenney's latest ad explicitly begs customers to come back, it also reveals the end of Johnson's rebranding efforts.
Johnson changed JCPenney's logo to read "jcp." This logo appeared in the company's ads, and in remodeled stores:
According to Johnson, the new logo was meant to reflect that JCPenney was a simple, straightforward, and modern store.
Yet, the latest ad on the retailer's YouTube channel reads "jcpenney":
Johnson alienated customers by eliminating JCPenney's popular promotions program. He tried to bring in young customers by hiring hip designers, but failed to follow through.
The company reverting back to "jcpenney" shows its done with Johnson's strategy for good.
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