Wednesday, January 26, 2011

J. C. Penny cant sell Merchandise so now selling Real Estate

To impress investors, retailers need a talent for unloading merchandise. But these days, they might make a bigger splash selling real estate.

Shares of J.C. Penney leapt 7.2% Monday after the department-store chain announced a slew of store closures and appointed real-estate heavyweights William Ackman and Steven Roth to its board.

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