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FILE - In this March 1, 2013 file photo J.C. Penney Chief Executive Officer Ron Johnson gestures from the witness stand at State Supreme Court in New York. Johnson vowed to transform the beleaguered chain with trendy merchandise and break shoppers’ addiction to sales with everyday low prices. But the rapid-fire changes alienated Penney’s middle income consumers, resulting in nearly a billion loss and a 25 percent sales drop in the first year of Johnson’s plan. He was fired after 17 months on the job. (AP Photo/Thomas Iannaccone, Pool, file)

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This undated photo provided by J.C. Penney shows the company's ad for its new xclusive lingerie collection in the U.S. with a partnership with Elle Macpherson, who along with Christy Turlington, Cindy Crawford and others became part of a new generation of supermodels in the 1980s. The collection will be in 300 of Penney’s 1,100 stores starting April 11, 2014. (AP Photo/ J.C. Penney)

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J.C. Penney is making an advertising push and bringing back discounts. (J.C. Penney via Associated Press)

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J.C. Penney is making an advertising push and bringing back discounts. (J.C. Penney via Associated Press)

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**FILE** Wesley Brooks, 7, of Huntsville, Ala., has his hair cut by Melinda Gilbert at the J.C. Penney styling salon in Huntsville, Ala., on Aug. 1, 2012. J.C. Penney is running a nationwide program giving kids ages 5-12 free back-to-school haircuts during the month of August. (Associated Press/The Huntsville Times)

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**FILE** Wesley Brooks, 7, of Huntsville, Ala., has his hair cut by Melinda Gilbert at the J.C. Penney styling salon in Huntsville, Ala., on Aug. 1, 2012. J.C. Penney is running a nationwide program giving kids ages 5-12 free back-to-school haircuts during the month of August. (Associated Press/The Huntsville Times)

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** FILE ** In this June 8, 2012, photo, Michele Crosta, a freelance fashion and wardrobe stylist, shops at J.C. Penney in New York. Six months after J.C. Penney got rid of the hundreds of sales it offers each year in favor of a three-tier pricing approach, the mid-priced department store chain is revamping its pricing strategy again. Among other changes, the blue "best price" signs will be eliminated, and "clearance" signs will be reintroduced. (AP Photo/Bebeto Matthews)

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** FILE ** In this June 8, 2012, photo, Michele Crosta, a freelance fashion and wardrobe stylist, shops at J.C. Penney in New York. Six months after J.C. Penney got rid of the hundreds of sales it offers each year in favor of a three-tier pricing approach, the mid-priced department store chain is revamping its pricing strategy again. Among other changes, the blue "best price" signs will be eliminated, and "clearance" signs will be reintroduced. (AP Photo/Bebeto Matthews)

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A shopper eyes cookingware gift sets at the J.C. Penney store at Herald Square in New York on Thursday, Dec. 16, 2010. A new survey shows consumer confidence dipped in December, even after other reports suggest people increased their holiday spending at the biggest rate in four years. (AP Photo/Bebeto Matthews)