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J.C. Penney's comeback strategy involves fewer sales, store makeovers and hiring former Apple employees to lead this change.
First, the retailer brought in Apple's former retail chief, Ron Johnson, to become CEO. Now it has hired Laurie Beja Miller to lead part of the revamp.
Miller will direct the creation of what J.C. Penney is calling "The Square." This seems to involve both a change to the stores' physical lay-out, moving toward one central location, and their atmosphere.
"In the golden age of department stores, America's families came for more than just to shop. They were able to have fun experiences and were offered a range of useful services," Johnson says in a news release. "We are going to revive that excitement and convenience at J.C. Penney, and Laurie is the ideal person to lead the charge."
At Apple, Miller was a vice president for special projects—and also spent three years at Nike directing its U.S. retail sales. She and Johnson worked at Apple at the same time, from 2003 to 2004, but in separate departments, the company said.
She most recently came from Bare Escentuals, a beauty retailer, and in the past, worked at Hallmark, Pottery Barn and Disney.
Miller joins a growing collection of Apple alumni at J.C. Penney. Johnson has already named Michael Kramer as chief operating officer, Daniel Walker as chief talent officer and Kristen Blum as chief technology officer.
J.C. Penney's comeback will place it in contention with surging Macy's, as well as Kohl's, Nordstrom and Saks.
Since Johnson announced the turn-around plan in late January, J.C. Penney stock has rallied 11.3%. (And going back to November, when Johnson officially started, the stock has seen a 20% rise.) It was at $38.58 in early morning trading Monday, about 23.6 times expected earnings this year.
Investors have turned bullish on J.C. Penney, hoping that Johnson can bring some Apple-like innovation to the staid retailer. With another ex-Apple employer joining, can the stock climb again?
Reach Abram Brown at abrown@forbes.com. Or follow him on Twitter @abebrown716.
