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  "documentTitle": "J.C. Penney Company, Inc. (JCP)",
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  "authorName": "William Ackman",
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  "presentationDate": "2012-05-16 00:00:00",
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      "kind": "callout",
      "text": "On-line merchants are the low-cost providers, making competing on price a losing strategy for the company",
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      "text": "Because good brands would not come to JCP, the company sold lower quality commodity product and competed on price",
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      "text": "Old Strategy – Summary",
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