Ackman roasted on St
There was a lot to talk about on the beaches that dot the eastern Caribbean last week from the chaos in Cyprus to new highs canada goose outlet toronto factory for the canada goose outlet uk sale Dow but among the fast money financial canada goose outlet store uk set enjoying spring break with their families, canada goose outlet canada the talk inevitably turned to just one topic: JCPenney and the misadventures of its CEO, Ron Canada Goose Coats On Sale Johnson, and his consigliere and investor Bill Ackman.
The schadenfreude was as thick as the layers of canada goose outlet jackets Lancaster sunscreen being applied on buy canada goose jacket the beaches of canada goose cheap canada goose uk outlet nyc St. Barts. The canada goose outlet new york city buzz centered on a familiar theme: that Johnson was an over rated and arrogant retailer and that Ackman being Ackman couldn’t see beyond his own hubris.
But there was something canada goose factory outlet more the sense that Steve Jobs wasn’t getting proper recognition for the phenomenal canada goose coats success of the Apple Store concept cheap Canada Goose (often credited to Johnson during his time at Apple) and that untethered from canada goose outlet shop Jobs’ brain, Johnson was just another grunt retailer.
Wall Street is clearly gunning for Ackman big https://www.outletmoncler.de time, despite the fact that there is very little financial gain to be had from Johnson’s or Penney’s demise. Sure, there are rumors that there is a canada goose outlet parka “book” making the rounds to sell Penney, but with a market value of just $3.4 billion and falling, any mergers and acquisitions fees would be small potatoes. In fact, those making some of the harshest comments could probably finance a Penney takeover on their own dime.
Of course, all this has canada goose outlet little to do with the pedestrian retailer, but very canada goose outlet much with how Ackman could buy canada goose jacket cheap be so dense as to double down on a retail bet after his disastrous foray into Target stock a few years ago.
At least the denizens of Wall Street were familiar with Target (their families occasionally shopped there), but JCPenney? canadian goose jacket A Joe Fresh store within a store? What is Team Johnson thinking? When it comes to Penney’s merchandising decisions, the 1 percent and the 99 percent canada goose clearance sale seem to be in rare cheap canada goose agreement: The store makeovers don’t make sense.
Johnson has a friendly board and Ackman on his side. But it is certainly starting to look like the retailing emperor has no clothes except of course all those JCPenney duds hanging in his walk in closet.