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From Home Furnishing Business

J.C. Penney Reports 12% Revenue Drop in Q2

Although J.C. Penney reported a wider-than-expected loss in the second quarter on a nearly 12% drop in revenue, small signs suggest that interim CEO Myron Ullman  may be starting to turn things around.

The quarter was the first entirely under Ullman's watch. Ullman returned to the retailer in April to undo the strategy put in place by Ron Johnson, who planned to transform J.C. Penney stores into a series of branded in-store shops.

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Source: Retailing Today

 







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