There's an old saying in the retail business: Success results from a good plan well executed.
In light of the failure of Bill Ackman's efforts to revitalize J.C. Penney under the leadership of Ron Johnson, you can expect to hear a lot of discussion about whether it was the plan or the execution that failed.
The plan certainly was audacious. The standard recipe for retail success is to grow customer loyalty. Transforming occasional shoppers into loyal advocates for a brand has been the key to the success of many retail leaders. Loyal shoppers spend more, will shop at their preferred stores even when rivals offer competitive products, and recommend the stores they like to their friends and family.
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