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Has Former Apple Retail Whiz Hit Rocks?
- CBS News, Wednesday, August 15, 2012 8:55 AM
When Ron Johnson, former head of retail at Apple, became CEO of J.C. Penney, the Street was optimistic. And with the company's recent quarterly earnings announcement being far worse than expected, Johnson's analysis helped the stock rebound. But there are huge problems, foremost being whether Johnson's redirection and merchandising plans can overcome basic issues of merchandising and consumer perception of the Penney brand.
