Attention JC Penney Shoppers, Look Out for the Return of ‘Sales Galore’
After months of abysmal sales tallies, the Ron Johnson era is over at JC Penney. Now that Johnson’s “fair and square” no-coupons pricing policies have proved to be a failure, the department store will have to try something else to win back customers and stop the bleeding. But what? Mike Ullman, who was replaced as CEO when Johnson took over at JC Penney in 2011, and who began serving again as top executive when Johnson was pushed out, told the Wall Street Journal that he wasn’t planning on reverting to the old business model. “I wouldn’t recommend that we go back to the way J.C. Penney was when I left,” he said. “Things change.” And yet, in some ways the department store is clearly trying to resemble the JC Penney of old. Management has already announced that newspaper ads will feature coupons once again. Johnson seemed to find coupon usage distasteful and silly, likening it to a drug that consumers needed to be weaned off. A little over a year after JC Penney went “drug-free,” ...
Raj Chetty: Exploring how the economy works in real life
Raj Chetty just won the John Bates Clark Medal for economists under the age of 40. We walk with him through one of his experiments that shed light on how people make economic decisions.
Sharp gold sell off caught many funds off-guard: Burbank
BOSTON - Hedge fund manager John Burbank, a long-time investor in gold, said the recent sharp selloff in the precious metal came as a surprise to many investors as some economic improvement and a general decline in commodity prices took their toll.
Found 1 month ago on channel Reuters
Katy Perry lists home purchased with Russell Brand
This week in celebrity real estate, Katy Perry listed her home officially on the market, Charlize Theron sold a home that once inspired a Beatles song and singer Colbie Caillat’s home is for sale.Katy Perry lists Hollywood Hills home for $6.925 millionKaty Perry and Russell Brand finalized their divorce in July 2012, and by most accounts have moved on with their lives — Perry dated singer John May...
Found 1 month ago on channel MSNBC
Founder of Wienerschnitzel chain John Galardi dies
IRVINE, Calif. -- John Galardi, who opened a Wienerschnitzel hot dog stand in Los Angeles in 1961 and expanded it into a chain with more than 300 outlets in 10 U.S. states, has died, his company said Sunday....