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There was a ton of hype over Ron Johnson taking on the CEO job at JCPenney a year and a half ago.
Recruited by hedge fund manager Bill Ackman, Johnson bet his turnaround on making JCPenney look more like Apple, using a genius bar concept to influence how the new JC Penney stores will look.
But as JCPenney sales declined and feedback from customers and employees was relentlessly negative, Johnson ran out of time.
We attended Johnson's big presentation in January 2012, when he officially kicked off his turnaround strategy. He told a packed house that, "We can change a brand overnight. And we're going to do that starting 2.1.12."
Walking into the event reminded us of walking into an Apple store
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A view of the stage before the presentation — which felt inspired by an Apple keynote event
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The scene also felt somewhat like New York Fashion Week. We sat in front of a JC Penney designer, left, and two women who work in merchandising for Liz Claiborne
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See the rest of the story at Business Insider
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