Last August in this space, I discussed the troubling sales trends and tumbling earnings from iconic retailer J.C. Penney, mentioning that the growing pains associated with implementing CEO Ron Johnson’s ambitious brand overhaul might have been a case of “too much too soon.”

J.C. Penney Co. unveiled an advertisement on Facebook that asks customers to return to its stores.

Giving a much-needed boost to J.C. Penney Co., George Soros’ Soros Fund Management bought 17.4 million shares of the troubled retailer, according to a filing with the Securities and Exchange Commission.

Goldman Sachs has put together a $1.75 billion financing package for J.C. Penney Co., with the loan backed by the retailer’s real estate and other assets, according to CNBC.

A New York State Supreme Court Judge ruled on Friday that J.C. Penney’s could temporarily sell certain housewares products from Martha Stewart Living in Penney stores.

Here are the five lessons I learned from the J.C. Penney debacle — unfortunately we knew all of this before Ron took his ideas to market.

A Wednesday report by Women’s Wear Daily quoted activist investor Bill Ackman, whose Pershing Square Capital Management is the largest shareholder of J.C. Penney Co., as saying that he won’t abandon the retailer following this week’s CEO shake-up.

In 2000, the average tenure of a CEO was 10 years. In 2008, it was down to eight and half, signaling a slightly higher degree of corporate and brand accountability by boards and shareholders.

Another day, another J.C. Penney story. Amid rumors that Penney chief executive Ron Johnson was stepping down, the chain flatly denied the allegations.

J.C. Penney Co. last Tuesday dominated the retail news as its shares dropped 10.6% to a four-year low after reports that one of its largest shareholders had sold a chunk of the troubled company’s stock.

The Home Depot Canada has joined other Canadian retailers in complying with the government's planned phase out of the penny.