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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)