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  "documentTitle": "J.C. Penney Company, Inc. (JCP)",
  "authorId": "01_Pershing_Square",
  "authorName": "William Ackman",
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  "presentationDate": "2012-05-16 00:00:00",
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  "notes": "Uses a comparison frame to anchor JCP's potential performance against industry benchmarks.",
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      "text": "What's the sales potential?",
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      "text": "If JCP becomes a collection of specialty stores, why can't its sales approach specialty store levels?",
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      "text": "Specialty stores in 80% of JCP's malls earn an average of $300+ in sales per square foot\nIf JCP becomes a collection of specialty stores, why can't its sales approach specialty store levels?",
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      "text": "sales per gross square foot: $561",
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      "kind": "table",
      "text": "2011 in-store merchandise sales per gross sf: GAP $337, American Eagle $436, Aeropostale $561, JCPenney $132, New JCP ?",
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      "text": "What Will the New JCP Look Like?",
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