As if J.C. Penney wasn't being subjected to enough mockery this week after its horrible fourth-quarter earnings report, now it's getting grief for hiring the man behind "New Coke." But in this case, the naysayers should take a step back.
From Pandora, which is trying to encourage more of its music streamers to pay, to Monster, which is trying to win back a good rep for its an energy drink, here's a rundown of this week's big winners and losers in the business world.
J.C. Penney reported a bigger-than-expected loss in the third quarter on plummeting sales as customers continue to reject its move get rid of blockbuster sales in favor of everyday low pricing. It's the third consecutive quarter of losses and steep sales declines.
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.