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How J.C. Penney Fell From the Top of Retail | WSJ

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J.C. Penney rose to prominence as a national retailer by dressing the middle class for over a century. But analysts say the retailer’s costly shifting strategies have failed to attract the modern middle-class customer, leading the company to declare bankruptcy. PHOTO: RICHARD B. LEVINE/LEVINE ROBERTS/ZUMA PRESS

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