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Reuters: Ron Johnson knew Martha Stewart deal was in conflict with Macy’s
New York -- A Friday report by Reuters revealed that J.C. Penney CEO Ron Johnson was well aware that the retailer’s deal with Martha Stewart would step on Macy’s toes, but testified in court that the company decided to move forward anyway.
Attorneys for Macy’s in New York state court on Friday presented Johnson with an email he sent to a Penney board member saying that Stewart would have to break her agreement with Macy’s if Johnson was going to “pull off” a deal with her.
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Glass half full
Sixty percent of retailers with at least two years of negative comps turn them positive.
Here’s how.
Two years of deep same-store sales declines can easily feel like a death sentence for most retailers. However, the data suggests it is indeed far from that.
We analyzed all specialty retailers with sufficient public data over the last 20 years—nearly 70 retailers—and found that the majority of retailers who substantially underperformed the market ended up turning their comps positive in relatively short order.
