“The genius behind Apple’s successful retail venture will head to JC Penny in an attempt to recreate the magic at the ailing department store, but Apple shouldn’t worry analysts say,” International Business Times reports.
“Ron Johnson, Apple’s senior vice president of retail, will head up JC Penny from November 1, the store said on Tuesday, taking the helm from Myron Ullman who will become executive chairman of the board,” IBT reports. “Johnson joined Apple in 2000 and has is the visionary behind the opening of more than over 300 stores for Apple.”
IBT reports, “Apple’s stores have become ‘a way of life,’ explained Mark Moskowitz of JP Morgan. ‘In our view, his consistent execution, messaging, and Apple’s retail revenue growth in the oft-challenging retail segment are without rival. The silver lining in the departure is that we believe Mr. Johnson’s retail team has plenty of managers that can carry the torch.'”
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