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If the new CEO can’t stop the bleeding JCPenney will be bankrupt by Labor Day. The question for investors and shoppers alike is who is the new boss and what, if anything, can he do to save the company.
They lost over a billion dollars with that CEO. Funny thing is he will likely still get a severance pay in excess of what most will earn in a lifetime. Life is fair.
They lost over a billion dollars with that CEO. Funny thing is he will likely still get a severance pay in excess of what most will earn in a lifetime. Life is fair.
Shows how dumb the guy was, couldn't even negotiate a decent severence pay like all the other big shots get
That was all negotiated by the Board before he was hired. They did ONE thing that was extremely smart. They tied the severance package to the stock price. Had JCP done well, he would have exited very wealthy.
On the topic of the Board, why would you hire someone with little retail experience? Wasn't Nardelli's experience at The Home Depot a lesson on why you should not?
I went into a JCP today for the first time in a while and the store had transformed and looked fantastic, wide open aisles, clean displays and great visuals. figuring out the pricing - esp in home - was very easy since everything was marked with a retail unlike most stores.
I think they just tried to do too much at once and forgot that they are a lower end retailer. Personally I love simple pricing strategies I hate having to shop on certain days to get the best price with a stupid coupon. Americans are idiots for the most part and LOVE their coupons and sales not realizing that retailers just jack up the prices to begin with. Whether you price it at a simple $25 or $70 with 50% off and a $10 coupon - its the same thing. It's all just a game.
I've been getting 20% off coupons in the mail for the last month. 20% off anything even clearance items
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