JCPenney has tried so many turnarounds during this decade, it’s difficult to remember which direction the classic American department store brand is even supposed to be facing. As of now, it’s not headed in the direction of profitability, or paying down its debts. [More]
Marvin Ellison
JCPenney Sales Increase Slightly, Still Losing Money
By 8.12.16
When higher-end department stores like Macy’s and even Nordstrom are struggling, it’s understandable that JCPenney might have another tough quarter trying to bring in new customers, get the ones it has to come in and spend more often, and find things to sell that customers can’t just go buy online instead. [More]
JCPenney Wants To Bring Current Customers Back More Often, Maybe Also Find New Ones
By 2.24.16
Marvin Ellison, the CEO of JCPenney, understands something important about the retailer that his predecessor Ron Johnson didn’t: they’re never going to attract affluent customers, and that’s okay. “We can convince ourselves that our core customers are a more affluent demographic, but really, they’re not,” he told Fortune magazine in a profile this week. [More]
JCPenney’s New CEO Plans To Reuse His Home Depot Strategy
By 6.11.15
JCPenney hasn’t had a chief executive officer since chairman Myron Ullman sacked re-vamper Ron Johnson back in 2013. Last fall, they found a candidate who was up for the challenge: Marvin Ellison, who was in charge of Home Depot’s stores in the United States, and worked for Target before that. He reported to work as president and CEO-designee in November 2014, and takes over on August 1. This week, he spoke at an investment banking conference about his future plans for the company. [More]
JCPenney Gives CEO Spot To Former Home Depot Exec
By 10.13.14
Ever since JCPenney gave Ron “No More Sales, Ever!” Johnson the boot from the company’s top spot in 2013 after 18 unsuccessful months spent trying to turn things around, it’s been trying to find just the right executive to fill that tough role. It seems that hunt is over now, as an executive from Home Depot has been named JCPenney’s new Chief Executive Officer. [More]
