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$1 billion spend for JCPenney in Q1

Ron Johnson may be gone, but the cash burn continues at JCPenney.
The struggling department store said yesterday it went through nearly $1 billion in cash in its first quarter as it scrambled to recover from a botched turnaround bid by former CEO Johnson.
Penney, in a regulatory filing, said… …read more
Source: NY Post

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Posted by on May 9, 2013. Filed under Business News. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.