U.S. Day Ahead: It's crunch time for JCP boss Ron Johnson
Thursday, August 09, 2012 - 02:28
Aug. 9 - J.C. Penney CEO Ron Johnson has to convince investors he can stop the bleeding at the struggling retailer when it releases results in the morning.
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And it's no. Me tonight. Brian Johnson's probably also wishing he could click if he'll go back to the safety of apple and a wave -- the quagmire of JC Penney. Abbas of the struggling retailer had to tell -- investors how he plans to stop the bleeding at his company when it reports results. JC Penney has been -- since the beginning of the year losing about 40% of its value thanks to the risky strategy of doing away with coupons. Johnson on some backtracking but we're correspondent Phil -- says he faces an uphill battle. Well it's do or die time for JC Penney they got rid of coupons earlier this year and that sent shoppers straight into the arms of -- it and the bases and others. The CEO Ron Johnson says that his idea of turning -- -- to a collection boutiques like Levi's which debuted last week. We'll bring customers back is back to school season now and that will soon be followed by holiday season. And this is really crunch time for all retailers and he's cuts but job. And according to exclusives start -- got up. Things could get even uglier for penny there is a high chance to ACP could -- on its earnings and revenue. Also sent to be the worst performer during the back to school season. Don't expect Manchester United to necessarily pop when it debuts on the New York Stock Exchange. The -- launch is set to raise 300 million dollars for owners. Please her family and valued -- team at over three billion dollars. That one IPO expert has told warrior is the deal is over -- the biggest problem. Revenue depends too much on the team's performance. That will -- failed at everything from teacher to broadcasting agreements. That adds it's quiet on the economic front here is once that. You -- see your teeth and you import prices. To rise as oil prices rebound and the dollar strengthens. I have art as because of that don't expect the US trade deficit to -- Keep shrinking as quickly as it's done recently and stick with writers TV and insider for more expert announces our Rhonda schaffler reports on the three ways DT tiny box Ron Johnson can improve its ailing business. Check out our writers YouTube channel and Reuters dot com slash writers TV. It -- a tweet follow us on Twitter at Reuters Insider I'm -- mom this is writers.
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