J.C. Penney recently ran apology ads directed at customers that were upset when the retailer made some drastic changes such as eliminating coupons (what?) and removing popular brands in favor of carrying other brands targeting younger consumers. After dismissing their CEO and bringing in a new face, the apology ads started running at the beginning of May.
Just a couple of weeks later, J.C. Penney is proclaiming victory.
http://youtube.com/watch?v=1vI9WTbJuTw?rel=0
A bit premature, don't you think? How can the company thank customers for returning after just a couple weeks? When you factor in production time, the odds are slim that the retailer actually stopped and analyzed data to back up their claim that customers have returned.
Bloomberg has reported that early May saw an increase in sales for J.C. Penney after "aggressive" advertising and promotions. However, the recent success follows a first quarter that saw the company's stock fall 16%. While it's safe to say the company has recently had news to celebrate, pushing out an ad that essentially declares victory seems like a foolish decision. The company is still in a pretty precarious position. We applaud the changes the company has made after some extremely poor ones, but maybe they should have given it some time before calling it a successful rebound.
