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Macy’s Shows J.C. Penney How to Rebuild After Johnson

April 10, 2013 4:21 AM
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At the heart of Ron Johnson’s plan to turn J.C. Penney Co. (JCP) into a mini mall of boutiques was the notion that the department-store model needed reinvention.

Yet while J.C. Penney faced challenges on Johnson’s arrival -- not least that its middle-income customers had been hit hard by the economic downturn -- other department stores have been thriving without a radical course correction. Exhibit A: Macy’s Inc. (M), which has turned in 12 consecutive quart...

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