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JCPenney: The Transformation
Transcript of JCPenney: The Transformation
Credited with transformation into 'Chic Discounter' Head of Apple Retail - Built from scratch into $18B business CEO - Vision to completely transform JCP Source: Pershing Square Capital MGT Report 5-16-2012 The JCPenney Environment Adressing the P's of Marketing rice romotion roduct resentation lace ersonality Source: Pershing Square Capital MGT Report 5-16-2012 Marketing Problem
how to communicate transformation? Executing the creation of a new JCPenney... Create a New Logo Positioning Hire a Company
Spokesperson For American Families, JCPenney is America's favorite shopping destination that all style savvy shoppers should experience because of its compelling merchandise and brand partnerships Positioning and Branding Revamp Ad Campaigns Before Strategy Change (2011) 1 3 Fair and Square - Ellen Degeneres (March 2012) 5 JCP Brand Launches
(Oct 2012) Analyzing the Numbers... Evaluating the Strategy Can an Apple Executive transform a discount clothier into a High-End Retail Conglomerate? JCP: Extracting some juice from Apple... MGMT-E6000: Group Presentation (Fall 2012) Rob Lund
Jay Kalavapudi Pricing Strategy The Verdict is still out... Test Effectiveness of Marketing Strategy Thanksgiving
Christmas Season Either Way... Immense Success Epic Failure What we know about Johnson - Highly capable and accomplished
- Heavily vested in company
- Willing to admit mistakes
- Shown ability to make changes on the fly Sale vs. Month-long value
Fired CMO $50 million of his own money Success at Target and Apple speaks volumes Logo, In-store setup, Pricing, Advertising Crucial Period: Holiday Season Measure effectiveness
People in Stores Stay the course? Patience of stakeholders we will be talking about it for years to come. (Is the “Apple Retail” model working?) New strategy begins… $2.927 $3,022 $3,152 $5,425 $3,986 $3,906 $3,943 ? 27% 23% 20% Source: Public Filings with the SEC. (Is the “Apple Retail” model working?) FY2012 TD
$207M $241 $122 $138 $(203) $(81) $(55) $45 $38 $41 $83 Source: Public Filings with the SEC. Why is it (not) working?