J.C. Penney president Michael Francis, the junior partner in the executive duo leading the chain's radical makeover, resigned Monday, after just eight months on the job. Will "fair and square pricing" follow him out the door?
J.C. Penney CEO Ron Johnson has a bold plan to revive the sluggish retailer, but based on its latest earnings report, the plan isn't working. However, it's way too early in this marathon metamorphosis to count Penney's out. Here's why:
Investors figured that new J.C. Penney CEO Ron Johnson's "Fair and Square" pricing strategy wouldn't be a hit right away, but no one expected the recently remodeled department store chain would be this earnings season's biggest disaster.