By  on November 18, 2008

J.C. Penney Co. Inc. released its Christmas strategy on Monday, emphasizing new “affordable” products, greater values and shopping conveniences.

Following last week’s disclosure of a difficult third quarter — profits fell 52.5 percent and same-store sales dropped 10.1 percent — Penney’s has no illusions about what looms ahead, and is sharpening the offering and value message and shifting marketing dollars without raising the budget.

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