Can a struggling J.C. Penney regain some ground in the coming weeks?
It’s been a tough reinvention so far for the Plano, Tex.-based department store chain, which on Tuesday cut another 350 workers from its headquarters, but will revise its pricing program and begin to open new in-store shops next month. These moves reflect the first part of an ambitious plan through 2014 to convert Penney’s wide-open selling floors to a format featuring 100 shops-in-shop, more or less. They’re also an attempt to get a lift on back-to-school business and stem the negative sales trends.
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