J.C. Penney

With high-profile brands such as Gap, GameStop and, in the U.S., J.C. Penney, having opened and then subsequently closed Facebook stores (presumably because they weren't delivering return on investment), it would be easy to assume that social media isn't suitable for sales — too easy, perhaps. But those who dig a little deeper may find that opportunities abound if social media is leveraged in the right way.

Ron Johnson lasted just 17 months as CEO of J.C. Penney. A J.C. Penney spokeswoman confirmed that Johnson is stepping down and will be replaced by his predecessor, Myron "Mike" Ullman, effective immediately. Ullman has also been elected to Penney's board of directors. "We are fortunate to have someone with Mike's proven experience and leadership abilities to take the reins at this important time," said Thomas Engibous, chairman of the board of directors, in a statement. "He's well-positioned to quickly analyze the situation J.C. Penney faces and take steps to improve the company's performance."

It's official: J.C. Penney scrapped its every-day-low-price strategy for the rollercoaster world of markups and markdowns. Merchants, marketers and graphic artists waited with bated breath, hoping J.C. Penney could make this strategy work. Imagine the time it would save! Price changes and errors would be a thing of the past.

There's a wonderful Yiddish reflection that goes, "The difference between genius and stupidity is genius has its limits," which may explain the difference between Apple stores and J.C. Penney/jcp. What's interesting is the strategies for both retailers were set by the same person - Ron Johnson, formerly SVP of Retail Operations for Apple, currently CEO of jcp. It was J.C. Penney when he joined and announced his long and short-term strategies. Long term: re-do all of the stores in the 111-year old chain into mini-boutiques-under-one-roof, which

To say J.C. Penney has been struggling is a vast understatement. Last month, the department store reported horrific holiday-quarter results, with the most drastic decline in sales in its 111-year history of operation. In addition, former J.C. Penney CEO Allen Questrom delivered a brutal takedown of the department store's current status in an interview to CNBC, stating it "can't continue with the same leadership." But, with Johnson's recent announcement that he "has no plans of retiring," the retailer is forced to rely on a new strategy other than the CEO's departure. Enter: Joe Fresh.

Attempts to re-position J.C. Penney as a hip new kind of retail destination have yet to pay off, but some think there's another way the company can shore up its financial position: make some money off its impressive portfolio of commercial property. In a note today, analysts at BTIG argue the retailer's owned and leased property is "an asset which we believe can be accessed to the benefit of equity investors."

Nordstrom is the nation's favorite fashion retail chain, according to an annual consumer study conducted by Market Force Information, a worldwide leader in customer intelligence solutions. The upscale department store edged out Kohl's, which had ranked first in the three previous studies. This year, Kohl's moved to the No. 2 spot overall, followed by Macy's, Dillard's and J.C. Penney.

Allen Questrom, the former CEO of J.C. Penney, shredded current CEO Ron Johnson for what he has done to the struggling department store chain in an interview with CNBC's Scott Wapner today. Questrom is a legend in the retail world. His career included jobs running JCPenney, Neiman Marcus, and Barneys. He totally disapproves of what's happening at J.C. Penney and he let the world know it in colorful language

A New York State Supreme Court Judge has ordered Macy's, J.C. Penney and Martha Stewart Living Omnimedia into mediation in a bid to resolve a dispute over a partnership with the Martha Stewart brand. The development Thursday comes as the companies were wrapping up the third week of a trial over whether Macy's has the exclusive rights to sell some Martha Stewart-branded merchandise, including bedding, cookware and bath items.

Yesterday, the court heard Martha Stewart's side of the story, including her reaction when Macy's CEO Terry Lundgren hung up on her. In an emotional testimony, Lundgren described hanging up on Stewart after she revealed that Martha Stewart Living Omnimedia had struck a deal with J.C. Penney. The court saw a list of points that Stewart was to cover in the conversation, but she insists she wasn't reading a prepared statement as Lundgren had thought.