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:
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.