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MARKET MOVERS

Ex-Apple official says he’ll transform Penney

J.C. Penney needs “to figure out how to drive traffic,’’ said Paul Lejuez, an analyst at Nomura Securities, speculating that the Plano, Texas, company might begin targeting younger customers. J.C. Penney needs “to figure out how to drive traffic,’’ said Paul Lejuez, an analyst at Nomura Securities, speculating that the Plano, Texas, company might begin targeting younger customers. (Emile Wamsteker/Bloomberg News)
November 15, 2011

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J.C. Penney Co. Chief Executive Ron Johnson, who took over this month after running Apple Inc.’s retail operations, is reviewing products, pricing and promotional strategies to help revive sales. Johnson, 52, is taking charge as the third-largest U.S. department-store chain posted its first quarterly loss in two years amid declining revenue.

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