NPR had a great piece about JC Penney's about a month ago. The reporter, her sources, and the customers she talked with made a very convincing case that in its zeal to attract trendy fashionistas in the coastal cities, it had driven away its long-time customers (mostly middle-aged and older) looking for deals.

Found it: http://www.npr.org/blogs/money/2013/03/01/173203739/sales-ar... (I recommend listening to the audio, which has more detail)