Time to Resign?

The honeymoon proved to be short for Ron Johnson and retail analysts. While the entire industry was beyond excited when Johnson took over control of JC Penney, he is now facing severe criticism and even calls for resignation.

The Dallas Business Journal reports that after JC Penney let go of 350 employees, Howard Davidowitz, a well-known retail consultant, has said it's time for Johnson to leave the company.

"The next step is the CEO has to go, I guess," said Howard Davidowitz, chairman of New York-based Davidowitz & Associates, a retail consulting and investment-banking firm. "Because if it stays like this, the question will be, 'What credibility does he have to do anything?' He will have lost all credibility."

Let us know what you think about Johnson's chances of steering the department store back on the right path.

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