Troubled retailer JC Penney, reeling from a 17 month leadership fiasco where former Apple executive Ron Johnson’s wrong business decisions only helped to lose the company a significant portion of their sales are starting to run some ads apologizing to customers and asking them to give the company another chance. A series of warm ads. mostly published Online, are particularly aimed at female customers and offer an apology for business mistakes that lost customer loyalty, and also ask old customers to return and give the old brick and mortar retailer another chance.
The new ads are an attempt for the retailer to stem the tide of customer losses. But, the failed leadership of former CEO Ron Johnson also damaged worker morale as workers were forced to change the color of price tags on store stock sometimes several times as Johnson thought that maybe the color of the price tags had a lot to do with the declining sales of the store compared to his philosophy of eliminating both sales as well as coupons. Johnson seemed to totally misjudge how much customers appreciated both coupons as well as specials and sales.
Stockholders in the company are certainly not amused either, where some sold off shares of the stock as sales began to tumble and some other analysts also predicted that JC Penney might possibly never return from their financial ruin and start to circle the drain at some point.