Former Apple SVP of Retail, Ron Johnson, lasted barely a year on the job. After the struggling department store chain reported a $13 billion annual decline in revenue, the board ingloriously booted Johnson whose greatest sin was trying to change way too many things at the same time, namely insisting on his shop-in-shop concept.
The irony of it: the boutique store approach could have easily breathed a new life into JCPenney's garage sale concept and stood a good chance of reinvigorating the firm's fugly brick-and-mortar locations.
Figuring the best thing to do at this point is wash its hands of this whole Ron Johnson adventure, JCPenney yesterday begun airing a new television commercial. Titled 'It's No Secret' it's a pathetic attempt at apologizing for chickening out of Johnson's vision for the company. The video is right past the fold...