J.C. Penney eyes urban expansion
Despite feeling more optimistic about the upcoming holiday shopping season, J.C. Penney is looking to expand beyond shopping malls into urban areas such as New York City, where it opened a 150,000-square-foot store in July. The company sees Web-based sales -- its fastest-growing revenue source -- as another area for expansion. "All of us need to learn faster how people want to shop," said CEO Mike Ullman.
Wall Street Journal, The | 10/23
This story published in NRF SmartBrief on 10/27/2009
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