Ron Johnson has been ousted as CEO of JCPenney as the retailer's board of directors voted on Monday to turn to his predecessor to pull the company out of the death spiral (it lost $4.3 billion in sales last year) on Johnson's watch, rather than give the former Target executive and Apple retail head the extra time he wanted to see his radical vision through to fruition.

Mike Ullman, who had been CEO of JCPenney until 2011, before Johnson, is returning to take the helm again at least for the time being, according to a JCPenney press release:

"The Board of Directors of J.C. Penney Company, Inc. today announced that Myron E. (Mike) Ullman, III has rejoined the Company as Chief Executive Officer, effective immediately. He has also been elected to the Board of Directors. Mr. Ullman is a highly accomplished retail industry executive, who served as CEO of jcpenney until late 2011. He succeeds Ron Johnson, who is stepping down and leaving the Company."

The stock market appreciated the move, which comes on the same day that JCPenney resumed its courtroom clash with Macy's in Manhattan over rights to field the Martha Stewart product lines that Johnson maintained would be crucial to turning around JCPenney's fortunes.Continue reading...

Gun Company Fires Back at Tommy Guns Vodka

Chicago mobsters back in the days of Al Capone favored a submachine gun known as the Tommy gun, which was then glorified in plenty of films and books about the era. But Tommy guns aren’t some relic of history. Saeilo Enterprises still makes them, and the owners aren’t very happy with Alphonse Capone Enterprises and its Tommy Guns Vodka, which is sold in a bottle shaped like the famous gun.

In fact, they are so annoyed that a lawsuit has been filed, the Chicago Tribune reports. Saeilo wants all of the Tommy Guns Vodka that is left to be turned over so it can all be destroyed. (Consumption counts as destroying, right?)Continue reading...

There’s really no excuse to be alone these days unless you really want to. As the shift in online dating moves from web to mobile, there are a host of digital apps at the ready to pair you with your match. Besides, what better day to jump into the dating pool than Valentine’s Day?

Below is a sample of Valentine’s apps that caught our eye and will maybe catch your heart:

Social discovery mobile GPS dating app SinglesAroundMe (SAM) introduces singles in the same hood. Users choose how much information they want to share on location maps with options to keep it Exact, Hidden or Approximate, which displaces their precise location on maps by approximately 1-2 miles. As V’Day has approached, the company reported a 300% surge in daily downloads of the app which counts upwards of 100,000 daily exchanges.

The Tinder photo-social app, “limits the conversations to people you've actually expressed an interest in. So each of those conversations starts at a very deep level," said Sean Rad, co-founder and CEO Tinder, which developed the app of the same name. The app pulls member photos from Facebook, anonymously indicating interest. If both people like each other, messages can be exchanged. Tinder says it’s matched more than 10 million couples since their launch last September.Continue reading...

Coca-Cola just wants to Open Happiness around the world, in keeping with its ongoing marketing theme, including rolling out a Valentine's Day video this week that was shot in New Zealand to thank its multitude of fans. It's just that global consumers haven't been as happy lately to open a Coke.

A slowdown in sales in Europe and China joined essentially stagnant sales in the United States to undermine Coke's fourth-quarter results. Global sales volume rose just three percent even as the beverage giant's earnings rose by 13 percent during the period.

Ongoing struggles in Europe were a main drag, with volume falling by five percent. Even sales in China, another key market, fell by four percent as Chinese consumers increasingly feel crimped. Meanwhile, the U.S., pushing an anemic economic recovery, yielded just a one percent sales gain during the quarter, though CEO Muhtar Kent said on Tuesday's earnings call that the American market "could get better."Continue reading...

UK-based Tesco stores are celebrating Chinese New Year 2013 with bright red decorations, special food and even a traditional lion dance. Check it out in the video above, which features Georg Fischer, CEO of Tesco Malaysia and Hai Qing Lu, Corporate Affairs Director of Tesco China.

IKEA is in hot water in Thailand for its holiday campaign that aimed for the funny bone and ended up hitting the Adam's apple — and offending some viewers in the process. The TV commercial, released on Dec. 25th and promoting an end-of-year sale, shows a couple strolling through the store, only the gentleman doesn't realize his companion is transgender.

As Reuters reported, "The 20-second commercial shown on YouTube and on Bangkok's trains in December and January entitled 'Luem Aeb' ('Forget to Keep Hidden'), was disrespectful to transsexuals, according to the Thai Transgender Alliance, which demanded an explanation from IKEA. Transgenders, or "Ladyboys" as they are often referred to, are widely accepted in Thailand and are commonplace in the fashion, beauty and entertainment industries, but are not officially recognized as women."

According to Reuters, a letter of apology from the company to the transgender group is now in the works. See the commercial, along with other holiday spots from IKEA Thailand, below.Continue reading...

China is the second latest economy in the world, every significant brand's future is impacted by its growth (or collapse!); but who's got the time?! Here's our weekly potpourri of ten reads that will make you look like a keen China observer during any conversation about China.

This week: Starbucks, Nike and Bulgari celebrate the year of the snake; hit films drives Thailand tourists; Kung Fu marketing; more.Continue reading...

Yum Brands! may be lowering its 2013 outlook and fighting to keep Chinese customers flocking to KFC following a chicken safety scare, the brand has a secret weapon: the Colonel's other secret recipe.

KFC has brought its secret fried chicken recipe to 115 countries and now it's moving another secret recipe for another classic American food through their franchise stores: chocolate-chip cookies, which the quick-serve chain introduced as a limited time offer in select U.S. markets in late November.

Since KFC has gotten so much PR longevity out of the “vault” that supposedly contains the secret recipe Colonel Sanders used to make the chicken, the chain is keeping the top-secret recipe for the cookies locked up tight in there, too. 

And even though it's busy tapping into Super Bowl fever with its couchgating promotion, its chocolate chip cookies are still resonating with fans.Continue reading...