Inside look at J.C. Penney

|About: J.C. Penney Company Inc. (JCP)|By:, SA News Editor

The National Retail Federation chairman Stephen Sadove thinks J.C. Penney (JCP) is on the right track

Sadove is also a board member at JCP and is supposed to toe the company line, but his inside look at the board's mentality shows strong support for CEO Myron Ullman.

"There is no silver bullet in retail," admits Sandove. He thinks major initiatives including the home business will add value incrementally for the retailer.

Bloomberg interview (video)

JCP -0.5% premarket