J.C. Penney Apologizes in TV Spot

Link to the actual ad: <a href="http://www.youtube.com/watch?v=qKQAivS0xsE" rel="nofollow">http://www.youtube.com/watch?v=qKQAivS0xsE</a><p>If you watch it, it's like they put the voiceover over random stock video photography. It's rather bizarre.<p>-- snip --<p>It's no secret, recently JCPenney changed. Some changes you liked and some you didn't, but what matters from mistakes is what we learn. We learned a very simple thing, to listen to you. To hear what you need, to make your life more beautiful. Come back to JCPenney, we heard you. Now, we'd love to see you.<p>-- snip --

After talking with my brother-in-law about what has happened on the JCP sales floor, I don't see how they can survive. I think they were probably in death throws before the new CEO and I'm not sure Johnson could have saved them, but now, there's no stopping the death throws.<p>Johnson was trying to take JCP upmarket (not so much in price/quality as in type of customer) because he knew they were going to be completely squeezed out by the logistics capabilities of stores like Target. Unfortunately, that kind of process takes years and a lot of courage because you will alienate many, if not most, existing customers before new customers come.<p>But JCP did the worst thing: they stopped right after alienating their existing customers. I think my brother-in-law will be looking for a new job soon. I will have a great deal of respect for the new CEO if they can bring JCP back to their previous level of "glory" and maintain it.

What exactly did jcpenney do that they're apologizing for? Just had a plummeting stock price?

J.C. Penney Shoots Self in Foot