Posted by Abe Sauer on March 1, 2010 12:46 PM
JC Penney is as iconic as American department store brands come. Since the early 20th century, it has been a reliable source for back-to-school outfits, office uniforms, underwear, and socks – all the basics. However, few would use the term "high fashion" to characterize the brand. But if JC Penney has its way, that is going to change, and soon.
Chairman and Chief Executive Myron E. Ullman made the brand's intentions clear after the store posted very positive Q4 results: "We intend to expand our market share. This means we work to increase visits and spending from our existing customers as well as find ways to reach new ones." He added that JC Penney would not reach these new customers by further discounting, but instead by expanding its exclusive lines: "Our focus for  is driving top-line growth."Continue reading...