Suddenly, JCPenney is back in vogue.
The company, who trials and tribulations have been well documented over the last year, has become the darling of Wall Street in the last two weeks thanks to the sudden, but not unexpected departure of CEO Ron Johnson, and better than expected results.
Still, what is happening on Wall Street may not be the case on Main Street. Penney still has an image problem with consumers and that will not go away any time soon without a change in merchandising and marketing. Penney remains a classic example of a retail operation that forgot what it was supposed to be and tried to become something else. New management would be wise to determine exactly who is the typical Penney customer and go after that person with the right merchandise mix and promotional strategy that wins these people over.