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I Still Don't Shop There, But Good For Them
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Well, willya look at this: We all thought they were absolutely dead, but it turns out that the best-performing retail department store chain in fourth quarter was JCPenney. What?!? Yes, after the disastrous repositioning of the dying chain that eliminated coupons and sales and brought in some name brands to replace lower-priced house brands, subsequent management went back to aggressive sales, resurrected the store brand clothing, and turned the ship around. It's still losing money, but not as much, and the trends are so strong, they're talking about adding appliances to the mix to grab business that Sears is losing. I would not have believed this was possible two years ago. (CNN Money)
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