Bluefield Daily Telegraph, Bluefield, WV

National and World

April 9, 2013

JC Penney looks to old CEO to secure its future

(Continued)

Critics have said that one of Johnson's greatest missteps was that he didn't test the pricing plan with shoppers. He argued that testing would have been impossible because the company needed quick results and that if he hadn't taken a strong stance against discounting, he would not have been able to get new, stylish brands on board.

"Experience is making mistakes and learning from them, and I have learned a lot," Johnson said at the time. "We worked really hard and tried many things to help the customer understand that she could shop any time on her terms. But we learned she prefers a sale. At times, she loves a coupon."

During his tenure, Johnson had spoken of being around for the long-haul and referred to his plan as a multiyear strategy. His plans were only partially realized. Shops for Joe Fresh featuring brightly colored clothes were launched last month. A new home area sporting names like Jonathan Adler and Michael Graves is set to launch this spring. Other brands were expected to be unveiled in coming years as the stores transformed into a collection of up to 100 mini-shops.

But the company's board wasn't willing to wait. Now that Johnson is out, the worry on Wall Street is that Ullman won't be able to turn around business fast enough.

"Ullman is in a crisis zone," said Sozzi. "This is not a normal situation. He has a short window to get in and see what's wrong with the company and put a Band-Aid on the fundamental problems."

____

Associated Press Business Writers Candice Choi and Joseph Pisani contributed.

Text Only
National and World
  • West Africa Ebola outbreak tops 700 deaths

    Security forces went house-to-house in Sierra Leone’s capital Thursday looking for Ebola patients and others exposed to the disease as the death toll from the worst recorded outbreak in history surpassed 700 in West Africa.
    U.S. health officials urged Americans not to travel to the three countries hit by the medical crisis:  Guinea, Sierra Leone and Liberia.

    July 31, 2014

  • Sunburn isn't the only sign of summer that can leave you itchy and blistered

    You've got a rash. You quickly rule out the usual suspects: You haven't been gardening or hiking or even picnicking, so it's probably not a plant irritant such as poison ivy or wild parsnip; likewise, it's probably not chiggers or ticks carrying Lyme disease; and you haven't been swimming in a pond, which can harbor the parasite that causes swimmer's itch.

    July 31, 2014

  • The virtues of lying

    Two computational scientists set out recently to simulate the effects of lying in a virtual human population. Their results, published in the Proceedings of the Royal Society B, show that lying is essential for the growth of a cohesive social network.

    July 31, 2014

  • lockport-police.jpg Police department turns to Facebook for guidance on use of 'negro'

    What seems to be a data entry mistake by a small town police department in western New York has turned into a social media firestorm centered around the word "negro" and whether it's acceptable to use in modern society.

    July 31, 2014 3 Photos

  • Screen Shot 2014-07-31 at 2.12.55 PM.png VIDEO: Five-year-old doesn't want her brother to grow up

    Sadie, an adorable 5-year-old from Phoenix, wants her brother to stay young forever, so much so that her emotional reaction to the thought of him getting older has drawn more than 10 million views on YouTube.

    July 31, 2014 1 Photo

  • Comiskey.jpg Sterling not the only bad owner

    As the Donald Sterling era in with the Los Angeles Clippers looks to be winding down, many are calling him the worst owner in sports history. From being cheap with the players to his most recent racist comments, it's hard to argue against.
    Yet, there are a few owners of athletic teams who can give Sterling a run for title of worst in history.

    July 31, 2014 1 Photo

  • Lindley, Tom.jpg Grandstands feel a little empty at NASCAR races

    Two decades after NASCAR started running at Indianapolis Motor Speedway, the crowds have thinned considerably. It's probably no reflection on the sport's massive following, which stretches from coast to coast, but it surely doesn't NASCAR's image help when the cameras pan across all of those empty seats.

    July 31, 2014 1 Photo

  • Why a see-through mouse is a big deal for scientists

    A group of Caltech researchers announced in Cell Thursday their success in making an entire organism transparent. Unfortunately, this isn't any kind of "Invisible Man" scenario: The organism in question is a mouse, and the mouse in question is quite dead.

    July 31, 2014

  • US warns against traveling to Ebola-hit countries

    July 31, 2014

  • Israel vows to destroy Hamas tunnels

    July 31, 2014

Local News
AP Video
Couple Channel Grief Into Soldiers' Retreat WWI Aviation Still Alive at Aerodrome in NY Raw: Woman Who Faced Death Over Faith in N.H. Russell Simmons, LL Cool J Visit Youth at Jail Raw: Obama Gets Hug From Special Olympian US, UN Announce Deal on Gaza Cease-Fire Despite Moratorium, Detroit Water Worries Remain Faith Leaders Arrested at DC Deportation Protest Family Dispute Cripples Northeast Grocery Chain CDC Warns Travelers Amid Ebola Outbreak US Stocks Plunge, Wiping Out July's Gains Demoted Worker Shoots CEO, Kills Self Obama Slams Republicans Over Lawsuit Raw: 2 Hurt in NY Trench Collapse House Leaders Trade Blame for Inaction Cantor Warns of Instability, Terror in Farewell Florida Panther Rebound Upsets Ranchers Small Plane Crash in San Diego Parking Lot Dangerous Bacteria Kills One in Florida Visitors Feel Part of the Pack at Wolf Preserve
Sister Newspapers' News