For those who thought the Ron Johnson era at J.C. Penney(JCP) was long over, a reminder this week that the results of his disastrous 17 month tenure continue to linger. Johnson was fired in 2013, but, despite strides under new CEO Marvin Ellison, the company remains a shadow of what it was prior to Johnson’s tenure. Incredibly, Johnson… Read More »
Appliance sales may be the answer for growth for brick and mortar retailers Best Buy(BBY) and JC Penney(JCP). Best Buy has shown consistent growth in appliance sales while struggling with its core electronics business. JC Penney announced plans to expand a pilot selling appliances to many additional stores. At the same time, moribund Sears Holdings(SHLD), once the clear… Read More »
Ron Johnson was brought into JC Penney(JCP) by Bill Ackman to be CEO. He was a rockstar on his entrance in 2011, coming off the success of the Apple(AAPL) Store and, previously, success at Target(TGT). Ackman thought he was getting Steve Jobs but he got Gil Amelio. Seventeen months later, Johnson was out, his reputation more like Vanilla… Read More »
The title on this morning’s press release from J. C. Penney(JCP) reads “J. C. Penney Company, Inc. Announces Settlement of Class Action Lawsuit,” and, indeed it did. But hidden in the same press release, in the fourth paragraph the company comments on Q3 numbers. “While we are confident of our position, resolving this litigation removes any uncertainty and… Read More »
Herbalife(HLF) has been the target of a very public campaign by Bill Ackman, who is short and insists the company is a massive fraud. This morning, Herbalife is clearly enjoying the schadenfreude as Ackman prepares for a conference call in support of his long position in the embattled Valeant(VRX). The entire text of the press release: “I hope Bill… Read More »