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Table Of Contents

J.C. Penney
JCP Real Estate
Origins of Initial Success
Successful Transition to a Department Store
Late 1990s: JCP Begins to Decline
Early 2000s: Saved from Financial Distress
Late 2000s: Core Problems Remain
Late 2000s: Progress Stalls
JCP Has Been Chronically Mismanaged
The Competitors Have Been Winning
Why Have The Competitors Been Winning?
New Management is Motivated to Win
Assembling a Dream Team
Sales per SF Near Mid-1990s Levels
Promotional Pricing Strategy
JCP Struggled to Attract Good Product
Old Strategy –Summary
Extreme Makeover
Personality -
Presentation & Place -
First Shops Recently Announced
Product Initiatives
Recent Product Announcements
The Magnitude of the Cost Opportunity is Large
Home Office (management target = $200+mm)
Stores (management target = $400+mm)
Advertising (management target = $300+mm)
Other Operational Opportunities
JCP Reminds us of Another Retail Turnaround…
Thoughts on the First Quarter
What Sales Could the New JCP Generate?
Good Downside Protection
What is the Potential Upside?
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Ackman JCP

Ackman JCP

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Published by Franklin Forward

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Published by: Franklin Forward on Feb 19, 2013
Copyright:Attribution Non-commercial


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