If JCPenney’s board wants to boost the company’s battered stock, it knows what to do.
Shares of the flailing retailer soared as much as 6 percent yesterday in the wake of a rumor that controversial CEO Ron Johnson had left the company.
The whisper grew so loud that the retailer released a statement saying Johnson — a former Apple exec whose flopped turnaround efforts spurred nearly $1 billion in losses last year — had “no immediate plans” to step down.
Knocking down the rumor failed to tamp down a rally that left the shares up 4 percent at the close, at $15.65.
The shares have slid 56 percent since Jan. 24, 2012, when Johnson first unveiled his no-couponing strategy at a splashy presentation in New York.
“The fact that it’s now in the conversation, that Johnson may leave, is a positive in and of itself,” one Penney shareholder told The Post.
Johnson has radically overhauled Penney’s strategy and has beckoned newer brands in a bid to attract younger shoppers.
But the moves have backfired, causing Johnson to backtrack — raising concerns that the chain has alienated customers.
Some investors are skeptical whether firing Johnson would cure Penney’s problems, as the exec has drastically restructured the retailer’s operations and fired tens of thousands of workers.
“What are they gonna do, bring in Bill Parcells to coach them to another Super Bowl?” one Wall Street money manager said yesterday.