August 17, 2012
It's been 28 years since The Miracle in Miami, Doug Flutie's successful final-second hail-mary touchdown pass, but the play is still considered to be one of the best last-ditch performances in sports history. In the retail world there's another seemingly last-ditch effort going on at retailer J.C. Penney. But when all is said and done, will investors consider J.C. Penney CEO Ron Johnson's strategic moves a Flutie-like success, or will the retailer receive the crushing defeat many are forecasting?
Recent anecdotes have sprouted some proverbial "green shoots," with sales at the company's updated Levi's store sections performing extremely well, despite abysmal company-wide sales. The next concept to roll out will include Phillips-Van Heusen brand iZod, and investors will be hanging on every comment they can to assess its success.
Follow along the video below as analysts Austin Smith and Brenton Flynn discuss their personal opinions regarding the J.C. Penney strategy.
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