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JCP Wire

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JCPenney's net losses have nearly doubled from the first quarter loss of $163 million to a second quarter loss of $348 million. While returning CEO Mike Ullman was vague over the department store's game plan from this point ("We need to get the right merchandise into the right place in the right time"), he did make an understated dig at the past year's policies under Ron Johnson: "We're open for all customers. It became popular wisdom that somehow we didn't want some customers and we wanted other customers." [WWD, sub req'd]