NEW YORK — J.C. Penney chairman and chief executive officer Myron “Mike” Ullman is clearly pushing the moderate department store chain into new areas and now it looks like the retailer is eyeing another big brand for its aisles — this time one from Polo Ralph Lauren.

WWD has learned that J.C. Penney is in discussions with Polo Ralph Lauren on a new product line, which is expected to launch in 2007, possibly by spring, according to industry and financial sources. The deal would come hot on the heels of Penney’s agreement to put Sephora beauty shop-in-shops into Penney’s stores.

For complete coverage, see tomorrow’s issue of WWD.

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