J.C. Penney Gets This Fresh Brand and 2 Hot Stocks to Watch
J.C. Penney (NYSE:JCP): J.C. Penney plans to open Joe Fresh shops in the majority of its stores on Friday, which is a key test of Chief Executive Officer Ron Johnson’s strategy to turn the majority of the chain’s locations into collections of boutiques, reports Bloomberg. Joe Fresh is the apparel brand owned by Canadian grocer Loblaw Cos., and it will be in 681 of J.C. Penney’s 1,100 stores and carry items like patterned pants and silk short-sleeved blouses, mainly for less than $40. Siiri Dougherty stated that J.C. Penney’s general merchandise manager of women’s apparel. J.C. Penney will advertise the brand online, via direct mail and in stores, which are to each hold a sweepstakes to win months of Joe Fresh apparel, she stated.