Blogpost: JC Penney, I’m watching you. Got Tweets?March 18, 2012 No Comments
“The only things that haven’t worked for me are when I’ve held back. There’s no reason to sell an idea short. The only risk would be to not fulfill the dream.” — Ron Johnson, new CEO J.C. Penney
This is not just your regular run of the mill retail department store.
Penney is in the midst of a major overhaul under new Chief Executive Ron Johnson, who came to the company from Apple and has brought along a number of colleagues.
The plan is to launch a new appearance of the stores, which will be carved up into about 100 boutiques in the next three years.
I will be watching for signs of the store revamps mainly from the JC Penney store in my neighborhood at North Hills.
I’ve listened to some financial experts say that simply put the retail industry doesn’t have much room to grow beyond where they stand now, that speciality retailers like H&M and Zara are the darlings, and that hopes of a major uptick even with all this Apple influence won’t wow customers.
Well, I am not so sure. I read the Steve Jobs autobiography and was impressed with his sharp attention to detail, as well as how he chose and developed the talent on his team.
J.C. Penney Chief Executive Ron Johnson joined the retailer from Apple… where he developed Apple Retail stores.
Going to an Apple Store is an “experience”… everything inside.. the placement of the products.. the flooring, the lighting.. All of it has been carefully thought out.
Nothing is placed in the stores without serious consideration of how the customer will be affected. I like that. I’m banking on him borrowing from Apple’s playbook to transform Penney’s stores.
I like it so much, that I purchased stock in JC Penney. Not a lot.. but some.
Skin in the game.
Shares closed Friday at $36.24. The stock is up 6.7% so far this year.Tags: JC Penney, North Hills, Pam's Musings, Ron JohnsonPam's Musings