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The Cost of Penney’s Transformation: $87 Million Q4 Loss

Forbes 02/24/2012

The company’s brand makeover is being cited as the main reason for its reported $87 million fourth-quarter loss, but CEO Ron Johnson sought to assure investors, saying, “the strategic changes we are making to our business model will dramatically simplify J.C. Penney’s operations, significantly lower the company’s cost structure [and] create a platform for growth that will result in improved profitability in 2012 and beyond.”

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