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Wednesday, Sep 5
2012, 2:50 PM
J.C. Penney (JCP +2.5%) CFO Ken Hannah reiterates at the Goldman Sachs Global Retailing...
J.C. Penney (JCP +2.5%) CFO Ken Hannah reiterates at the Goldman Sachs Global Retailing Conference that the company should end the year with over a $1B in cash. While conceding that the retailer saw slumping traffic as a major challenge this year, the exec keeps the faith that the shops within stores concept will register with consumers. As part of its "shops" transformation, 700 similar-sized JCP stores will receive 100 shops each. Technology remains a major focus in stores, with plans to utilize RFID tagging, iPads, and refresh stations. (webcast)