an indication that the plan wasn't working well and also a behind the scenes reason as to why sales possibly fell. Johnson said, "Sales and profitability have been tougher than anticipated" this quarter and that Penney's had "work to do to educate the customer on our pricing strategy and to drive more traffic to our stores.". But give Johnson a break, guys. Transformation isn't easy 
Share:  an indication that the plan wasn't working well and also a behind the scenes reason as to why sales possibly fell. <span class="sent"><span class="analyst">Johnson</span> said, "Sales and profitability have been tougher than anticipated" this quarter and that Penney's had "work to do to educate the customer on our pricing strategy and to drive more traffic to our stores.".</span> But give <span class="analyst">Johnson</span> a break, guys. Transformation isn't easy....And now since the stock has fallen, down more than 23% this year, this may be a good time to get your hands on Penney's. <span class="sent">Transformation isn't easy, like I've said, so <span class="analyst">Johnson</span> needs time to work out his Apple magic.</span> Penney's had a poor run this quarter and may not look like the most compelling stock pick at the moment, but don't worry as we have some other pretty compelling ones for you. Learn more in our free report, " The Death of Wal Mart: The Real Cash Kings Changing the Face of Retail .". Tweet this   read full story

In a talk with analysts and investors early Tuesday evening, Ron Johnson, who became Penney's chief executive officer in November, acknowledged that the first quarter was "tougher than anticipated" and said that he expects 2012 to be a difficult year. "We had to make the bold step [in pricing]," Johnson said on the call. "It's one big year we have to go through. It's really hard but we'll get through it.". Johnson , whose efforts to wean shoppers off a barrage of bargains is being watched closely by other retailers who would love to do the same , may be given more leeway than most to make good on his word. 
Share:  In a talk with analysts and investors early Tuesday evening, Ron <span class="analyst">Johnson</span>, who became Penney's chief executive officer in November, acknowledged that the first quarter was "tougher than anticipated" and said that he expects 2012 to be a difficult year. <span class="sent">"We had to make the bold step [in pricing]," <span class="analyst">Johnson</span> said on the call.</span> "It's one big year we have to go through. It's really hard but we'll get through it.". <span class="analyst">Johnson</span> , whose efforts to wean shoppers off a barrage of bargains is being watched closely by other retailers who would love to do the same , may be given more leeway than most to make good on his word. Tweet this   read full story

J. C. Penney tripped up by plethora of apps. "Customization is not your friend," Mike Kramer, chief operating officer of the broad line retailer told analysts during an earnings call Tuesday. JCP reported a 20% drop in sales and suspended its dividend, missing analysts' expectations, and Kramer explained the company was hindered operationally because it has to manage almost 500 software applications, the vast majority of which have been customized. "Ninety percent of my IT spend is on maintenance fees and only ten percent goes to strategic initiatives," he said 
Share:  J. C. Penney tripped up by plethora of apps. <span class="sent">"Customization is not your friend," <span class="analyst">Mike Kramer</span>, chief operating officer of the broad line retailer told analysts during an earnings call Tuesday.</span> JCP reported a 20% drop in sales and suspended its dividend, missing analysts' expectations, and Kramer explained the company was hindered operationally because it has to manage almost 500 software applications, the vast majority of which have been customized. "Ninety percent of my IT spend is on maintenance fees and only ten percent goes to strategic initiatives," he said...."Customization is not your friend," Mike <span class="analyst">Kramer</span>, chief operating officer of the broad line retailer told analysts during an earnings call Tuesday. <span class="sent">JCP reported a 20% drop in sales and suspended its dividend, missing analysts' expectations, and <span class="analyst">Kramer</span> explained the company was hindered operationally because it has to manage almost 500 software applications, the vast majority of which have been customized.</span> "Ninety percent of my IT spend is on maintenance fees and only ten percent goes to strategic initiatives," he said. Big Data threatens to upend the $9 billion music publishing industry. Tweet this   read full story

A new round of management layoffs is happening this week at J. C. Penney Co., this time at its stores. A spokeswoman confirmed that stores are undergoing the same restructuring that happened last month at its Plano corporate headquarters where 600 people were laid off. 
Share:  <span class="sent">A new round of management layoffs is happening this week at <span class="company">J. C. Penney Co</span>., this time at its stores. A spokeswoman confirmed that stores are undergoing the same restructuring that happened last month at its Plano corporate headquarters where 600 people were laid off.</span>...A spokeswoman confirmed that stores are undergoing the same restructuring that happened last month at its Plano corporate headquarters where 600 people were laid off.<span class="sent"> After that cut, <span class="company">Penney</span> said its total workforce was 134,000 people. <span class="company">Penney</span>'s new approach to pricing, promotions and merchandising has "removed a lot of the process oriented work that was previously required under the old business model," said <span class="company">Penney</span> spokeswoman Daphne Avila.</span> Tweet this   read full story