“I feel great about Ron Johnson running JC Penney and the people he’s recruited. The way he changed helped lift morale at the company,” said Ackman. “I’m sure I’m on the right track, and I like it a lot.
Beside Bill Ackman’s Pershing Square, Frank Brosens’ Taconic Capital, Michael Price’s MFP Investors, and Jim Simons’ Renaissance Technologies also invested in JCP last year, Q3 filings show.
JC Penney is “a retailer company which operates department stores in the United States. Its business is consists of selling merchandise and services to consumers through its department stores and through the Internet Website at jcp.com. The Company sells family apparel and footwear, accessories, fine and fashion jewelry, beauty products through Sephora inside jcpenney and home furnishings. In addition, its department stores provide its customers with services, such as styling salon, optical, portrait photography and custom decorating,” according to Google Finance.
