2/28/2013

Sales at J.C. Penney have plummeted by $4.3 billion during CEO Ron Johnson's first year in the corner office, after the former Apple retail chief banned cut-price sales and sought to pack stores with branded boutiques. The disastrous strategy shows that running Apple's stores isn't necessarily a good preparation for running box-store retail operations, James Kwak writes. "There's a big difference between selling the most lusted-after products on the planet and selling commodities in second-rate malls," he adds.

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