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I didn't see it that way. He took a big swing to do something different and was fired less than two years into it. Maybe you could argue that he was straining a
by Brendinooo 4y ago
I didn't see it that way. He took a big swing to do something different and was fired less than two years into it. Maybe you could argue that he was straining against something too strong to overcome or misapplying his lessons from a higher-margin brand, but it's also possible to say that he wasn't given enough time to see it through.
It's like if someone would have taken over Kodak at the turn of the century to go all-in on digital. It would have hurt the company in the short term and kicked against their core business but maybe they would have come out on the other side better off. Impossible to say if the scenario isn't allowed to happen.
His tenure coincides with the beginning of the decline of department stores in general, so you'd have to show that JCPenney fared uniquely worse to say that he ran it into the ground. It still exists, unlike Lord and Taylor and Sears. Doesn't seem to have fared much worse than Macy's, though I didn't do a ton of research here.
- KerrAvon 4y agoYes, we don't actually know whether it would have worked. He said upfront that it would need more time; apparently he didn't manage upward effectively enough and for some reason the board didn't feel desperate enough to give him more runway. Department stores had already been declining for a long time before he came along, though.