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customers who were used to heavy discounting. By eliminating the thrill of pursuing markdowns, the "fair and square every day" pricing strategy disenfranchised JCPenney's traditional customer base. Johnson himself was said "to have a disdain for JCPenney’s traditional customer base." When shoppers were not reacting positively to the disappearance of coupons and sales, Johnson did not blame the new policies. Instead, he offered the assessment that customers needed to be "educated" as to how the new pricing strategy worked. He also likened the coupons beloved by so many core shoppers as drugs that customers needed to be weaned off." While head of JCPenney, Johnson continued to live in
California and commuted to work in
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have "had no idea about allocating and conserving resources and core customers. He made promises neither his stores nor his cash flows would allow him to keep". Similar to what he had done at Apple, Johnson did not consider a staged roll-out, instead he "immediately rejected everything existing customers believed about the chain and stuffed it in their faces" with the first major TV ad campaign under his watch. Johnson defended his strategy, saying that "testing would have been impossible because the company needed quick results and that if he hadn’t taken a strong stance against discounting, he would not have been able to get new, stylish brands on board."
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When
Johnson announced his transformation vision in late January 2012, J. CPenney's stock rose 24 percent to $ 43. Johnson's actual execution, however, was described as "one of the most aggressively unsuccessful tenures in retail history". While his rebranding effort was ambitious, he was said to
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Many of the initiatives that were successful at the Apple Stores, for instance the "thought that people would show up in stores because they were fun places to hang out, and that they would buy things listed at full-but-fair price" did not work for the JCPenney brand and ended up alienating its
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supported bringing in
Johnson to shake up the store's stodgy image and attract new customers. Johnson was given $ 52.7 million when he joined JCPenney, and he made a $ 50 million personal investment in the company. After being hired, Johnson tapped Michael Kramer, an Apple Store veteran, as
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liked
Tiffany's for breakfast, but at $ 4,032 per square foot, Apple is eating everyone's lunch". In 2011, Apple Stores in the United States had revenue of $ 473,000 per employee. According to the research firm RetailSails, the Apple Store chain ranked first among U.S. retailers in terms of
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Throughout 2012, sales continued to sag dramatically. In the fourth quarter of the 2012 fiscal year, same-store sales dropped 32%, which led some to call it "the worst quarter in retail history." On April 8, 2013, he was fired as the CEO of JCPenney and replaced by his predecessor,
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of $ 23.72, and then sold the stock later that day for $ 185 to $ 185.21 apiece, netting him a $ 112 million profit. It was reported that
Johnson earned $ 400 million during his seven and a half years at Apple.
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clothing retailer. In 2012, Apple operated more than 400 stores, with outlets in
Australia, Canada, China, France, Germany, Italy, Switzerland, United Kingdom, United States, Hong Kong and Japan. According to
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Under
Johnson's leadership, Apple's retail stores achieved a record level of growth, exceeding a billion dollars in annual sales within two years of their debut, surpassing the previous record set by
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122:, where he was credited for making the store appeal to a younger and trendier crowd. Johnson is on the Board of Directors of Globality Inc, a start-up based in
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have turned "the boring computer sales floor into a sleek playroom filled with gadgets" under
Johnson's direction.
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began a series of mock-ups for the Apple store in a warehouse near the company's headquarters in
Cupertino.
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102:(born October 15, 1959) is the CEO and founder of Enjoy Technology. Previously, he was CEO of
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This article is about the
American businessman. For other people with the same name, see
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758:"SPAC Led by Former Apple Executive Goes Bankrupt Less Than a Year After Going Public"
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as senior vice president of retail operations in January 2000. At the suggestion of
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Ron Johnson’s JCPenney: Anatomy of a Retail Failure | Breakout - Yahoo! Finance
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687:"TO BE CLEAR: JC Penney May Have Just Had The Worst Quarter In Retail History"
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813:"How Failed JC Penney CEO Ron Johnson Is Redeeming Himself With Enjoy"
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How Apple store wiz kid Ron Johnson became J.C. Penney’s problem child
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Three Leadership Lessons from Ron Johnson’s Debacle at J.C. Penney
401:"The 5 Big Mistakes That Led to Ron Johnson's Ouster at JC Penney"
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The company went public in 2021, and declared bankruptcy in 2022.
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indicate discontinued products, services, or defunct companies.
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Did J.C. Penney Pick The Exact Wrong Time To Fire Ron Johnson?
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teams. Johnson later earned a Bachelor of Art, Economics from
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After his success at Apple and Target, Johnson was hired as
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560:"Ron Johnson Made $ 400+ Million At Apple In 7.5 Years"
483:"Apple's Retail Army, Long on Loyalty but Short on Pay"
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stores turn $ 930–tops for electronics retailers—while
509:"Ron Johnson, Apple Stores Chief, to Lead J.C. Penney"
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Clifford, Stephanie; Helft, Miguel (June 14, 2011).
604:Tag: Ron Johnson | Business & Money | TIME.com
756:Hill, Jeremy; Lipschultz, Bailey (30 June 2022).
712:"Ron Johnson Is Out at JC Penney: CNBC Exclusive"
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306:, a JCPenney board member and head of hedge fund
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315:while firing many existing JCPenney executives.
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737:Wakabayashi, Daisuke (October 23, 2014).
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739:"Apple's Ex-Retail Chief Leads Startup"
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623:Eight Lessons from Ron Johnson's Ouster
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589:. Yahoo! Finance. Retrieved 2013-07-26.
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266:per square foot, almost double that of
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666:Covert, James S. (February 11, 2013).
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782:Reingold, Jennifer (March 19, 2012).
644:. (2013-04-09). Retrieved 2013-07-26.
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685:Blodget, Henry (February 28, 2013).
327:by private jet several days a week.
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270:, the second retailer on the list.
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547:The Roots of Apple's Retail Stores
343:In 2014, Johnson founded Enjoy, a
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840:Apple Senior VP Exercises Options
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527:"Apple Retail Store - Store List"
3145:People from Atherton, California
3120:American retail chief executives
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727:. Forbes. Retrieved 2013-07-26.
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625:. Forbes. Retrieved 2013-07-26.
3105:Harvard Business School alumni
3069:J. C. Penney Historic District
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481:Segal, David (June 23, 2012).
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353:Kleiner Perkins Caufield Byers
206:(an Apple director and CEO of
77:University of Minnesota (B.A.)
1:
399:Tuttle, Brad (9 April 2013).
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374:As of 2015, Johnson lives in
298:in November 2011, succeeding
3130:People from Edina, Minnesota
3115:Stanford University trustees
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2117:Shazam Entertainment Limited
796:(4): 124–131. Archived from
146:. He was the captain of the
21:Ron Johnson (disambiguation)
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887:November 2011 – April 2013
811:Chafkin, Max (2015-10-26).
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217:According to an article in
190:line of consumer products.
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585:Macke, Jeff. (2013-04-09)
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359:with participation from
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130:Early life and education
743:The Wall Street Journal
656:. Retrieved 2013-08-21.
610:. Retrieved 2013-07-26.
357:Oak Investment Partners
313:chief operating officer
292:chief executive officer
262:in 2011, with sales of
212:The Walt Disney Company
167:Harvard Business School
2392:FBI encryption dispute
784:"Retail's New Radical"
124:Menlo Park, California
3095:Apple Inc. executives
2055:InVisage Technologies
349:Palo Alto, California
2869:Edgar S. Woolard Jr.
2062:The Keyboard Company
953:Timeline of products
134:Johnson was born in
16:American businessman
2387:Price-fixing ebooks
2221:Rockstar Consortium
864:Business positions
452:"Globality Website"
361:Andreessen Horowitz
260:sales per unit area
159:Stanford University
112:Apple Retail Stores
3074:J. C. Penney House
2738:Arthur D. Levinson
1833:Sign in with Apple
800:on April 23, 2012.
513:The New York Times
487:The New York Times
253:takes in $ 2,666.
220:The New York Times
120:Target Corporation
93:Business executive
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370:Personal life
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140:General Mills
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68:
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60:(age 64)
50:
46:
39:
34:
27:
22:
3017:
2988:The Treasury
2920:
2904:Ronald Wayne
2854:Eric Schmidt
2844:Delano Lewis
2829:Al Eisenstat
2797:John Sculley
2692:Bruce Sewell
2661:
2637:Al Eisenstat
2622:John Browett
2582:John Sculley
2549:Johny Srouji
2524:Greg Joswiak
2519:Lisa Jackson
2487:Luca Maestri
2365:AppleMasters
2203:
2179:
2174:Kaleida Labs
2172:
2167:AIM alliance
2165:
2158:Partnerships
2133:
2126:
2109:
2102:
2095:
2090:Nothing Real
2088:
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2053:
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2039:
2032:
2025:
2018:
1996:
1979:Acquisitions
1931:Subsidiaries
1873:
1849:
1809:
1802:
1765:Fifth Avenue
1748:iTunes Store
1703:
1641:
1624:iTunes Radio
1622:
1615:
1603:
1453:
1436:
1352:
1095:
1088:
1081:
1074:
1067:
1013:
973:Trade unions
968:Supply chain
877:
853:
820:. Retrieved
817:Fast Company
816:
806:
798:the original
793:
787:
777:
765:. Retrieved
761:
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742:
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694:. Retrieved
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567:. Retrieved
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531:. Retrieved
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459:. Retrieved
455:
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434:. Retrieved
430:
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408:. Retrieved
404:
394:
373:
365:
342:
329:
325:Plano, Texas
321:
317:
289:
279:strike price
272:
236:
229:
225:Apple Stores
218:
216:
197:
181:
165:degree from
133:
99:
98:
85:CEO of Enjoy
3125:1959 births
3028:Mike Ullman
3018:Ron Johnson
3002:(1997–2004)
2996:(1968–1997)
2994:Thrift Drug
2990:(1962–1981)
2849:Arthur Rock
2765:Andrea Jung
2755:Alex Gorsky
2667:David Nagel
2662:Ron Johnson
2642:Tony Fadell
2632:Paul Deneve
2554:John Ternus
2443:Car project
2431:Asahi Linux
2272:Product Red
2241:Advertising
2216:Imagination
2041:FingerWorks
2014:BIS Records
1908:Look Around
1718:Game Center
1605:Beats Music
1299:iOS history
1159:Accessories
958:Environment
893:Mike Ullman
883:J.C. Penney
872:Mike Ullman
529:. Apple.com
461:December 6,
425:Colt, Sam.
333:Mike Ullman
304:Bill Ackman
300:Mike Ullman
100:Ron Johnson
66:Nationality
30:Ron Johnson
3089:Categories
2894:Steve Jobs
2874:Jerry York
2809:Gil Amelio
2805:(Chairman)
2803:Steve Jobs
2799:(Chairman)
2793:(Chairman)
2740:(Chairman)
2600:Steve Jobs
2594:Gil Amelio
2539:Dan Riccio
2529:Sabih Khan
2460:Executives
2397:Epic Games
2372:Litigation
2336:Typography
2321:University
2142:Potential
2111:PrimeSense
2048:Intrinsity
1857:TestFlight
1811:One to One
1798:Genius Bar
1783:AppleCare+
1727:Retail and
1444:GarageBand
1413:Compressor
1242:Vision Pro
932:Apple Inc.
822:2019-02-07
569:2012-08-15
533:2012-08-15
436:23 October
386:References
380:California
200:Apple Inc.
116:Genius Bar
108:Apple Inc.
82:Occupation
54:1959-10-15
3037:Buildings
2981:Divisions
2723:directors
2436:iPodLinux
2414:#AppleToo
2377:Antitrust
2360:Community
2353:Codenames
2289:Criticism
2279:Ecosystem
2261:Get a Mac
2097:P.A. Semi
1998:AuthenTec
1987:Completed
1944:Apple IMC
1923:Companies
1845:Developer
1736:App Store
1666:originals
1643:Newsstand
1551:Financial
1495:QuickTime
1430:MainStage
1425:Logic Pro
1398:FileMaker
1378:Classroom
1270:Operating
1198:Apple SIM
963:Marketing
696:7 January
456:Globality
410:7 January
264:US$ 3,085
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2974:JCPenney
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2721:Board of
2606:Jony Ive
2499:Eddy Cue
2475:Tim Cook
2181:Taligent
2027:EditGrid
1875:MobileMe
1699:iMessage
1689:FaceTime
1651:Podcasts
1617:Festival
1543:Services
1505:SceneKit
1360:visionOS
1343:bridgeOS
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983:Products
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2309:Campus
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2146:Disney
2076:Metaio
2034:Emagic
2009:Beddit
1992:Anobit
1969:Claris
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1939:Anobit
1893:Photos
1869:iCloud
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1500:Safari
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2602:(CEO)
2596:(CEO)
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2572:(CEO)
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2483:(COO)
2477:(CEO)
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879:CEO
852:at
794:165
294:by
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