EX-JCPenney CEO Ron Johnson Slams His Critics As ‘Largely Inaccurate And Surprisingly Uninformed

JCPenney ex-CEO Ron Johnson is lashing out at his critics after more than a year of being beaten up in the press and wholly blamed for the retailer’s spiraling revenue losses.
Johnson told Forbes reporter Barbara Thau via email that criticisms of his tenure at JCPenney have been “lacking in depth, largely inaccurate and surprisingly uninformed.”

Johnson declined to elaborate, however, saying it’s premature to discuss his tenure, Thau reported.

Johnson was fired in April after less than two years at the helm of the department store. His decision to change the store’s pricing strategy has been blamed for the chain’s catastrophic losses, which haven’t stopped spiraling since he left.

In the most recent quarter, JCPenney posted a net loss of $586 million, or $2.66 a share, and same-store sales were down about 12% from the previous year.

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Posted on October 29, 2013, in Other. Bookmark the permalink. Leave a comment.

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