It sounds cold-blooded, but with shopping habits changing fast, the demise of the brick and mortar store may not matter much to the economy in the long run.
Ron Johnson's ousting as CEO of JC Penney ends his bid to break retail's cycle of marking products up just to mark them down in sales. Shoppers rejected Johnson's strategy of keeping low prices instead of discounting.
JCPenney cut a top executive's salary by more than 96 percent. Other corporate boards also took a whack this week at poor performers. The curious case of executives who know they're not doing well, but keep working anyway.
J.C. Penney seriously needs to catch a break right now. Shoppers were scared off when the chain eliminated big sales in favor of everyday low prices. Now, Penney's will open 681 'Joe Fresh' shops inside their main stores.
