Nick Wooster surprised a lot of people when he took the executive vice president of private brands position at JCPenney. At the time, it seemed like a huge step backwards for the one time men’s fashion director of Barneys and Neiman Marcus, but through advertising and sales initiatives, we got a taste of Nick Wooster’s vision on a much more moderately priced level.
Unfortunately his reign is now over.
Nick has officially stepped down from his position and there’s no word on what he’ll be doing next, although chances are he’ll go back to consulting for smaller brands.
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Nick’s departure follows the recent firing of CEO Ron Johnson – who was replaced by his predecessor, Mike Ullman, after just a year-and-a-half on the job. Since Johnson took over and announced his re-branding plan for the department store (which saw an end to major discounts and a focus on individual in-store boutiques), JCPenney’s stock has fallen dramatically – losing the majority of its value, while the chain took close to $1 billion USD in losses and a 25 percent drop in revenue.
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It would seem Nick just didn’t want to go down with a sinking ship and sully his good name. Either way, we know Nick will be fine and we’re just interested in figuring out what the “Woost God” will get into next!
