Content about Ron Johnson

February 13, 2014

Ed Record, a former finance executive with Stages stores, Kohl’s, Belk and Federated was appointed to replace Ken Hannah as CFO at J.C. Penney.

Ed Record, a former finance executive with Stages stores, Kohl’s, Belk and Federated, has been appointed to replace Ken Hannah as CFO at J.C. Penney.

Hannah joined J.C. Penney less than two years ago under the leadership of former CEO Ron Johnson, a former Apple executive who pursued a costly transformation strategy that alienated customers and led to sharp sales declines. Johnson was ousted last April and former J.C. Penney CEO Myron Ullman was brought back to restore growth and undo much of Johnson’s handiwork.

February 13, 2014

Ed Record, a former finance executive with Stages stores, Kohl’s, Belk and Federated was appointed to replace Ken Hannah as CFO at J.C. Penney.

Ed Record, a former finance executive with Stages stores, Kohl’s, Belk and Federated, has been appointed to replace Ken Hannah as CFO at J.C. Penney.

Hannah joined J.C. Penney less than two years ago under the leadership of former CEO Ron Johnson, a former Apple executive who pursued a costly transformation strategy that alienated customers and led to sharp sales declines. Johnson was ousted last April and former J.C. Penney CEO Myron Ullman was brought back to restore growth and undo much of Johnson’s handiwork.

December 13, 2013

J.C. Penny will eliminate the jcp menswear brand and reduce the assortments in its Joe Fresh, Michael Graves and Martha Stewart lines, Reuters reported.

J.C. Penny will eliminate the jcp menswear brand and reduce the assortments in its Joe Fresh, Michael Graves and Martha Stewart lines, Reuters reported.

All four brands were introduced by former CEO Ron Johnson. Penney plans to use the resulting space to emphasize its exclusive private-label brands.

Starting in January, Penney will shrink its Joe Fresh in-store shops and reduce the assortment, the report said, moving the shops away from the front entry to give a more prominent spot to the chain’s own a.n.a and jcp women's wear collections.

August 13, 2013

J.C. Penney said activist investor Bill Ackman resigned from the company’s board and was replaced by former Federated Department Stores executive Ron Tysoe.

J.C. Penney said activist investor Bill Ackman resigned from the company’s board and was replaced by former Federated Department Stores executive Ron Tysoe.

August 13, 2013

J.C. Penney said activist investor Bill Ackman resigned from the company’s board and was replaced by former Federated Department Stores executive Ron Tysoe.

J.C. Penney said activist investor Bill Ackman resigned from the company’s board and was replaced by former Federated Department Stores executive Ron Tysoe.

August 8, 2013

In one of the stranger situations in retail right now, J.C. Penney is defending itself against charges by activist investor Bill Ackman that it’s not moving fast enough to hire a full time CEO and remedy a situation that Ackman created when the guy he picked nearly destroyed the company.

In one of the stranger situations in retail right now, J.C. Penney is defending itself against charges by activist investor Bill Ackman that it’s not moving fast enough to hire a full time CEO and remedy a situation that Ackman created when the guy he picked nearly destroyed the company.

July 19, 2013

J.C. Penney is counting on a familiar blend of promotional tactics for the 2013 back-to-school season after a slate of merchandising initiatives and a free haircut offer ended horribly last year.

J.C. Penney is counting on a familiar blend of promotional tactics for the 2013 back-to-school season after a slate of merchandising initiatives and a free haircut offer ended horribly last year.

The department store retailer is touting the availability of some familiar brands and promotional pricing along with a new Joe Fresh Kids brand, expanded Levi’s assortments, free customization kits with the purchase of backpacks and shoes during August and dedicated landing pages at Jcp.com for key brands such as Arizona, Levi’s and Total Girl.

May 17, 2013

J.C. Penney reported a deeper-than-expected loss of $348 million for its first quarter, compared to $163 million in the year-ago period, amid a 16.4% decline in revenue.

PLANO, Texas — J.C. Penney reported a deeper-than-expected loss of $348 million for its first quarter, compared to $163 million in the year-ago period, amid a 16.4% decline in revenue. The results came as the company seeks to undo the damage caused by former CEO Ron Johnson’s costly and largely failed makeover.

May 17, 2013

J.C. Penney reported a deeper-than-expected loss of $348 million for its first quarter, compared to $163 million in the year-ago period, amid a 16.4% decline in revenue.

PLANO, Texas — J.C. Penney reported a deeper-than-expected loss of $348 million for its first quarter, compared to $163 million in the year-ago period, amid a 16.4% decline in revenue. The results came as the company seeks to undo the damage caused by former CEO Ron Johnson’s costly and largely failed makeover.

April 9, 2013

Myron E. (Mike) Ullman has rejoined Penney as CEO, effective immediately, replacing Ron Johnson, who is leaving the company.

NEW YORK — Myron E. (Mike) Ullman has rejoined Penney as CEO, effective immediately, replacing Ron Johnson, who is leaving the company. Ullman, who served as CEO of Penney until late 2011, has also been elected to the board of directors.

Johnson’s departure was not all that unexpected given the chain’s mounting losses and sales declines. But it was still a stunning reversal of fortune for the former golden boy of Apple, who left the tech giant amid great fanfare for the top job at Penney.

April 9, 2013

Myron E. (Mike) Ullman has rejoined Penney as CEO, effective immediately, replacing Ron Johnson, who is leaving the company.

NEW YORK — Myron E. (Mike) Ullman has rejoined Penney as CEO, effective immediately, replacing Ron Johnson, who is leaving the company. Ullman, who served as CEO of Penney until late 2011, has also been elected to the board of directors.

Johnson’s departure was not all that unexpected given the chain’s mounting losses and sales declines. But it was still a stunning reversal of fortune for the former golden boy of Apple, who left the tech giant amid great fanfare for the top job at Penney.

March 5, 2013

JCPenney Co. last Tuesday dominated the retail news as its shares dropped 10.6% to a four-year low after reports that one of its largest shareholders had sold a chunk of the troubled company’s stock.

NEW YORK — JCPenney Co. continues to dominate the retail news as its shares dropped 10.6% yesterday to a four-year low after reports that one of its largest shareholders had sold a chunk of the troubled company’s stock. And in a late afternoon report, The Wall Street Journal said that a group of Penney directors is ready to get rid of CEO Ron Johnson, or push to sell the chain unless he can stop the company’s heavy bleeding this year.

February 27, 2013

Fouth quarter same store sales fell by a jaw-dropping 31.7% at J.C. Penney, but CEO Ron Johnson insisted the company continues to make great strides with its one year old transformation strategy.

Fouth quarter same store sales fell by a jaw-dropping 31.7% at J.C. Penney, but CEO Ron Johnson insisted the company continues to make great strides with its one year old transformation strategy.

The company report an adjusted net loss for the quarter of $427 million, or $1.95 a share and a full year adjusted net loss of $766 million or $3.49 a share.

February 5, 2013

A new line of apparel, toy and specialty goods inspired by Nickelodeon's Dora Rocks! is now avaible exclusively at Target stores and on Target.com through April.

NEW YORK — A new line of apparel, toy and specialty goods inspired by Nickelodeon's Dora Rocks! is now avaible exclusively at Target stores and on Target.com through April.

"We are excited to bring the Dora Rocks! experience to Target's guests," said Ron Johnson, SVP retail development, Nickelodeon Consumer Products. "Dora Rocks! extends the interactivity kids and parents have come to expect from the show, bringing Dora into their homes with specially designed products."

Items available exclusively at Target include:

January 2, 2013

Michael Francis is among 10 top executives Advertising Age has singled out on a list of movers and shakers for 2013.

Michael Francis is among 10 top executives Advertising Age has singled out on a list of movers and shakers for 2013.

August 10, 2012

If JCPenney CEO Ron Johnson is concerned by a 21.7% second-quarter same-store sales decline and a worse-than-expected loss, it wasn't evident Friday morning.

If JCPenney CEO Ron Johnson is concerned by a 21.7% second-quarter same-store sales decline and a worse-than-expected loss, it wasn't evident Friday morning.

The retailer said sales for the second quarter ended July 28 declined 22.6% to a little more than $3 billion, resulting in a $147 million loss, or 67 cents per share. After adjusting for $159 million in restructuring charges, the company reported a loss of $81 million, or 37 cents per share. The 21.7% comp decline follows a first-quarter decline of 18.9%.

August 10, 2012

If JCPenney CEO Ron Johnson is concerned by a 21.7% second-quarter same-store sales decline and a worse-than-expected loss, it wasn't evident Friday morning.

If JCPenney CEO Ron Johnson is concerned by a 21.7% second-quarter same-store sales decline and a worse-than-expected loss, it wasn't evident Friday morning.

The retailer said sales for the second quarter ended July 28 declined 22.6% to a little more than $3 billion, resulting in a $147 million loss, or 67 cents per share. After adjusting for $159 million in restructuring charges, the company reported a loss of $81 million, or 37 cents per share. The 21.7% comp decline follows a first-quarter decline of 18.9%.

July 31, 2012

JCPenney is not dead yet. New shops and free haircuts may help.

JCPenney is not dead yet. New shops and free haircuts may help.

Retail pundits eager to write JCPenney’s obituary may want to wait until after the back-to-school season as the struggling retailer revealed several intriguing merchandising moves reminiscent of the tactics CEO Ron Johnson employed during his tenure running Apple stores. And in an unconventional buzz-building, traffic generating move the company said it would offer free haircuts to kids at its salons throughout August.

July 27, 2012

When JCPenney first announced its “fair and square” pricing strategy back in January with a great deal of hoopla and fanfare -- complete with a NYC media event attended by 700 people -- there was much hope that former Apple executive CEO Ron Johnson and then president Michael Francis, formerly at Target, would be able to bring some of their retail magic to the stagnant retailer.

PLANO, Texas — When JCPenney first announced its “fair and square” pricing strategy back in January with a great deal of hoopla and fanfare -- complete with a NYC media event attended by 700 people -- there was much hope that former Apple executive CEO Ron Johnson and then president Michael Francis, formerly at Target, would be able to bring some of their retail magic to the stagnant retailer.

July 27, 2012

When JCPenney first announced its “fair and square” pricing strategy back in January with a great deal of hoopla and fanfare -- complete with a NYC media event attended by 700 people -- there was much hope that former Apple executive CEO Ron Johnson and then president Michael Francis, formerly at Target, would be able to bring some of their retail magic to the stagnant retailer.

PLANO, Texas — When JCPenney first announced its “fair and square” pricing strategy back in January with a great deal of hoopla and fanfare -- complete with a NYC media event attended by 700 people -- there was much hope that former Apple executive CEO Ron Johnson and then president Michael Francis, formerly at Target, would be able to bring some of their retail magic to the stagnant retailer.

June 18, 2012

Investors who were holding out for some of Michael Francis' Target marketing magic to rub off on JCPenney will be left wondering what could have been, as the company announced Francis' departure effective Monday.

PLANO, Texas — Investors who were holding out for some of Michael Francis' Target marketing magic to rub off on JCPenney will be left wondering what could have been, as the company announced Francis' departure effective Monday.

CEO Ron Johnson will assume direct responsibility and oversight of the company's marketing and merchandising functions.

Johnson said, "We thank Michael for his hard work at JCPenney and wish him the best in his future endeavors."

June 8, 2012

JCPenney has announced several promotions and additions to its merchandising, operations and investor relations areas.

PLANO, Texas — JCPenney has announced several promotions and additions to its merchandising, operations and investor relations areas.

“We’re rethinking every element of the retail business and there's no better way to re-imagine the possibilities than to tap the proven abilities of our own extraordinary talent along with the fresh perspectives offered by industry experts new to our organization,” said CEO Ron Johnson.

February 24, 2012

Fourth-quarter same-store sales at JCPenney declined 1.8%, and the company lost $87 million, but those details are being overlooked for the time being as execution of the transformation strategy envisioned by CEO Ron Johnson began less than a month ago.

Fourth-quarter same-store sales at JCPenney declined 1.8%, and the company lost $87 million, but those details are being overlooked for the time being as execution of the transformation strategy envisioned by CEO Ron Johnson began less than a month ago.

January 31, 2012

Apple Monday named a replacement for former retail head Ron Johnson, who left the company last year to become CEO of JCPenney.

CUPERTINO, Calif. — Apple Monday named a replacement for former retail head Ron Johnson, who left the company last year to become CEO of JCPenney. The company announced that John Browett will join the company as SVP retail, reporting to Apple CEO Tim Cook. Browett comes to Apple from European technology retailer Dixons Retail, where he has been CEO since 2007. Beginning in April, he will be responsible for Apple’s retail strategy and the continued expansion of Apple retail stores around the world, the company said in a press release.

January 31, 2012

Apple Monday named a replacement for former retail head Ron Johnson, who left the company last year to become CEO of JCPenney.

CUPERTINO, Calif. — Apple Monday named a replacement for former retail head Ron Johnson, who left the company last year to become CEO of JCPenney. The company announced that John Browett will join the company as SVP retail, reporting to Apple CEO Tim Cook. Browett comes to Apple from European technology retailer Dixons Retail, where he has been CEO since 2007. Beginning in April, he will be responsible for Apple’s retail strategy and the continued expansion of Apple retail stores around the world, the company said in a press release.