JcPenney

On Tuesday, JCPenney CEO Ron Johnson presented on the company's earnings, which were disappointing. The "transformation is ahead of schedule," he said, but one big problem is that customers don't get its new sale-free, coupon-free pricing strategy.

J.C. Penney's new CEO plans to remake the tired old department store chain a la the Apple Store and Target, and his fresh ideas are earning him applause. But as investors and industry watchers cheer Ron Johnson's turnaround concepts, they're ignoring some big potholes on the road ahead.

J.C. Penney is permanently marking down all of its merchandise by at least 40% so shoppers will no longer have to wait for a sale to get its lowest prices. The move is intended to take the guesswork out of shopping by offering customers fewer sales and more predictable pricing.

J.C. Penney is betting on iconic domestic diva Martha Stewart to help reinvent the staid department store concept, and in turn, how America shops. Their partnership is the first bold move from new CEO Ron Johnson -- but can it work?

Even as investors reel from the stock-market roller coaster this week, Wall Street is moving on, with plenty of news on the way. Next week will bring headlines about retail and gaming earnings, as well as quarterly reports from News Corp., SodaStream and some newly public Chinese firms.

July retail sales were solid, with Costco, Macy's, JC Penney, Nordstron and Saks Fifth Avenue all beating expectations. Craig Johnson, president of Customer Growth Partners, the retail consultancy, says we could be having the best back-to-school selling season since 2006.

The nation's big retailers are betting on exclusive lines to ring up back-to-school sales, and also targeting kids and teens where they wile away the hours -- online -- with digital campaigns designed to both entertain and stoke a social-shopping experience tailor-made for the tech-savvy generation.

Ron Johnson, the man credited with the success of the Apple Store, is about to move downmarket to take over as CEO of J.C. Penney. The buzz from Wall Street has been nothing but positive, but can the executive live up to the hype and reinvent the retailer's dated brand?

Keeping track of the latest product and food recalls can be a challenge, so Consumer Ally has collected them in one place for you to check each week. Here is this week's roundup: Kiddieland Toys Limited recalled almost 10,000 Disney Princess Plastic Racing Trikes in the U.S. and Canada...

This week's Friday Freebies has something for everyone -- from free iTunes MP3s to a subscription to Women's Day and free prescription glasses. Plus, it's not too late to take advantage of the free 60-day membership to BJ's and a free mascara offer at Sephora inside jcpenney. Also look for free...