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MarketWatch reports that at least one Citigroup analysis suggests that JC Penney may be coming back from its recent travails as once-and-again CEO Mike Ullman invests more in private label, tries to develop a better national brand assortment, eliminates brands of dubious value (like the Martha Stewart line that resulted in a lawsuit being filed against the company by Macy's), and pursuing a "go narrow and deep" strategy that will appeal to longtime customers that need to be lured back into the store.
KC's View:
Listen, I've spent a lot of time here beating up on JC Penney, so I felt it only fair to report on some optimism about the company's future. But I'm still not convinced.

On the other hand, at least Ullman doesn't seem to be as delusional about his company's future as Sears CEO fast Eddie Lampert.