Shoppers are finally coming back to JCPenney.
The department store has seen a “significant” increase in sales and traffic in May, reports Matt Townsend at Bloomberg News, citing Cleveland Research analyst Jeff Stinson.
JCPenney shares are also up a month after unpopular CEO Ron Johnson left the company and management reinstated coupons.
The former Apple executive left last month after just 17 months on the job.
During his time at JCPenney, Johnson tried to make the store more modern by eliminating its popular promotions program and pouring billions of dollars into renovating stores.
But his plan backfired and drove many of the company’s loyal customers away. Millennials, Johnson’s target audience, didn’t want anything to do with JCPenney.
Since Johnson was replaced by his predecessor Mike Ullman, the retailer has embarked on an epic apology tour.
Two weeks ago, JCPenney debuted an incredible ad apologizing for the missteps of the past year. The company also took to social media to address customer concerns.
The company just released another ad thanking customers for coming back in stores.
It looks like JCPenney is finally getting the boost it desperately needs to survive.
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