J.C. Penney Apologizes to Customers in New Ad
"It's no secret," begins a new J.C. Penney television ad, to a soft piano soundtrack and nostalgic images of old storefronts. "Recently, J.C. Penney changed." That's something of an understatement. In April, the clothing retailer booted CEO Ron Johnson, wooed from Apple with much fanfare, after he oversaw a $4 billion loss in revenue in his brief tenure. As former CEO Mike Ullman goes about stemming the bleeding, J.C. Penney is going on the offensive, apologizing to shoppers alienated by Johnson's controversial store revamps.