JC Penney suffered another blow last week with the announcement that Caribou Coffee will no longer open shops inside of the retailer's revamped stores. According to Bloomberg, the news comes just six months after JPC's CEO Ron Johnson cited the coffee company as a potential partner.

Caribou Chief Executive Officer Mike Tattersfield made the announcement via email, but declined to give a reason for the split, the article reported. JC Penney posted an annual sales decline of 25 percent to $13 billion earlier this month, as Johnson continues to struggle to transform the department store into a boutique-style, mall-within-a-mall shopping destination.

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User Comments – Give us your opinion!
  • Bob Phibbs
    5584879
    Worst. Makeover. Ever. You couldn't have written a worse story about how one man ruined an iconic brand. Caribou is just the latest of what will be more I predict who lose faith in the brand and its current leader.

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