J.C. Penney Should Be Prudent With Revamp, Says Ex-CEO Questrom
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Former J.C. Penney Co. Chief Executive Officer Allen Questrom said the retailer should be prudent as CEO Ron Johnson implements a plan to turn most of the chain’s locations into collections of boutiques.
“In high risk situations, one needs to be prudent,” Questrom said yesterday in a telephone interview. “Decisions can’t be Powerball chances. You’re responsible for employees and managing shareholders’ money.”