Astrid Stawiarz / Getty Images J.C. Penney CEO Ron Johnson
The company has been on a rollercoaster since former Apple guru Ron Johnson took over in 2011. Johnson changed the company's logo, set about redesigning the stores, and ? infamously ? ended JCP's rotating discounts and sales in favor of everyday low prices.
He accompanied it all with an ambitious, and expensive, rebranding campaign.
A big part of that was magazine advertising. JCP increased its magazine ad pages from 150 to about 330 between 2011 to 2012, according to MediaRadar.
Of its more than $1 billion ad budget for 2011, it spent $53.6 million on magazines, and even more on newspapers, according to Ad Age.? That amount probably rose in 2012, according to MediaRadar.
The increased spending came after JCP fired its ad agency, Saatchi & Saatchi at the end of 2011, after five years together. It brought in Peterson Milla Hooks.?Its PR company, M Booth and Associates, was also set loose.
Did any of this pay off? Absolutely not. Comparable same-store sales for the third quarter of 2012 declined 26.1 percent and total net sales decreased 26.6 percent, from $3.9 billion to $2.9 billion.
Overall, 2012 general retail ad pages increased by 31 percent, with eight of the top 10 increasing their ad pages from the year before:
MediaRadar
Source: http://www.businessinsider.com/jc-penneys-magazine-advertising-2013-2
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