-
Report: Penney working with AlixPartners
New York -- J.C. Penney has been working with consulting firm AlixPartners, which specializes in turnarounds, for about a month, the Wall Street Journal reported.
Executives at AlixPartners are focused on cash flow management and finding ways for Penney to save money, according to the report. -
J.C. Penney Lesson No. 1: Know Your Customer
By Leslie Hand, research director, IDC Retail Insights
Ron Johnson's highly publicized short tenure at J.C. Penney, or JCP, as it was rebranded, will certainly make it into the textbooks and graduate theses on what to do and what not to do when undertaking a significant retail business transformation. The primary failure was not putting customer needs first in what promised to be an excellent long term strategy. Oops — forget the customer in an omni-channel customer strategy?
What a colossal mistake!