NEW YORK: J.C. Penney Co Chief Executive Ron Johnson has said his plan to reinvent the 102-year old retailer will take years to carry out. But after Penney's latest sales debacle, he may have only six more months to get the job done.
In the first year of his plan, Penney's sales fell almost 25 percent and the company posted huge losses, including Wednesday's announcement of a dismal holiday season.
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