Penney's presents plan to prospective lenders

05/14/2013 | Women's Wear Daily (subscription required)

J.C. Penney highlighted its more than $4 billion real estate portfolio and a revival plan that includes a mix of private label and national brands such as Joe Fresh, St. John's Bay and Liz Claiborne to prospective lenders this week, in a pitch to win backing for a $1.75 billion financing plan. The retailer's strategy for 2013 will combine a return to promotional pricing with some of the changes started by former CEO Ron Johnson, the company said in a regulatory filing.

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