Tough going at J.C. Penney

J.C. Penney shares have plunged nearly 60% over the past year as Johnson — a former Apple executive who spearheaded the tech giant’s retail strategy — has struggled to lead a turnaround effort. He took over at J.C. Penney in November of 2011 and has since announced a series of new initiatives including overhauled prices, redesigned store layouts, and even free haircuts for kids.

So far, the results have been dismal.

Selling iPhones wasn’t so bad after all.