| December 11th | 2019 1:00AM
It's Not All Gravy In Retail Land
A Retailers Dilemma; Trading Profit For Traffic
One of the biggest draws for consumers is a good deal. Our need for a good deal can be seen in the downfall of JC Penny’s (JCP) ex-CEO Ron Johnson. Johnson had the brilliant idea that, instead of marking down over-priced items, JC Penny would have low prices every day. JC Penny saw its traffic plunge, its comp-store sales decline, its revenue fall, and earnings recede.