PLANO, Tex. — J.C. Penney Co. Inc. is going to be “in the wilderness” for about a year as it reinvents its identity in a bid to capture market share, chief executive officer Ron Johnson told shareholders at the company’s annual meeting here Friday.
“We are in the middle of a very important and a very challenging year of transformation,” he told the small audience at company headquarters. “It is not easy. It’s been a really hard time for all of us here.”
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"