PLANO (CBSDFW.COM) - An old favorite is returning to JCPenney stores across the country. The former company logo is coming back, after a brief trip to the storage room under now-ousted CEO Ron Johnson.
Johnson had shortened the company's name to simply 'jcp' in an updated logo, and placed the letters inside of colored boxes, in an attempt to reband the department store chain. But consumer research showed overwhelming support for the classic logo -- where JCPenney is fully spelled out.
The rebranding coincided with last year's loss of nearly $1 billion for the company. Executives are hoping that the familiar logo will remind a significant number of shoppers why they once loved JCPenney stores.
The Plano company is also getting a new face on its board, one that many believe will greatly help the department store chain reclaim some of its former success. Stephen Sadove is currently the CEO of Saks Fifth Avenue, but he is set to leave that company and join JCPenney after Saks Fifth Avenue's pending merger with Hudson's Bay.
Sadove fills the bill for critics of JCPenney's board, who argue that the company does not have enough retail experience in the mix. Sadove is held in high regard within the industry, and serves as Chairman of the Board of the National Retail Federation.
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