JC Penney Apologizes For Former Apple Retail Chief Ron Johnson’s $12.99 Billion Blunder

Former Apple Retail Chief Ron Johnson’s time at JC Penney was not a good one for the company. Johnson tried to revamp the retailer’s image from a clearing house for cheap junk sold at discounted prices during an endless spree of “sales” and “coupons” into a refined boutique, a store-within-a-store retail concept similar to the Apple Store.

The result? A $12.99 billion year-over-year decline in revenue that got Johnson fired as CEO after his first year on the job. And if that’s not bad enough, JC Penney is now adding insult to injury by releasing a commercial apologizing for the changes he made.

Bullsh*t Rumor Claims Apple Could Be Looking To Replace Tim Cook


Going nowhere.
Going nowhere.

I’ve been writing for Cult of Mac for almost three years now, and in that time I’ve covered some pretty farfetched Apple rumors. But the latest from Forbes comes with a whole new level of crazy.

“Some Wall Street sources close to some Apple executives” say the Cupertino company could be searching for a replacement for Tim Cook, it claims, before suggesting Cook could turn Apple into another Hewlett-Packard or JC Penney and insisting “Apple’s shine has faded” since the passing of Steve Jobs.

Why Facebook Home Is Good, Bad, And Probably Irrelevant On Our Newest CultCast



Steam! That’s what Steve Jobs would have had rocket from his ears when he heard about Facebook Home. We’ll explain why on our newest CultCast, but also covet aloud the one feature we hope Apple borrows for iOS. Plus, inside Leander Kahney’s Jony Ive book; Ron Johnson father of the Apple Store takes a boot to the rear; and we wrap with an all new Faves ‘N Raves, the segment where we pitch our favorite tech and apps then vote on which one’s best!

Stream or download new and past episodes of The CultCast on your Mac or iDevice by subscribing now on iTunes, or hit play below and let the good times roll.

Click on through for the show notes.

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What Was Ex-Apple Retail Chief Ron Johnson’s Big Mistake At JC Penney?



Here’s some fantastic analysis on what ex-Apple retail chief Ron Johnson did wrong at JC Penney written by legendary Apple ad man Ken Segall, who completely rejects the idea that Ron Johnson didn’t understand JC Penney’s brand identity, and even wandered around quoting the company’s founder, who detested sales gimmicks. So what was the problem?