JCPenney has struggled since CEO Ron Johnson announced his massive turnaround plan.
But Johnson just told CNBC that the retailer’s worst adjustment period would be over after Christmas.
JCPenney is currently in the process of converting its stores to smaller shops that Johnson says will appeal more to consumers. Even the stores that don’t get shops will have improved presentation, he told CNBC’s Courtney Reagan.
JCPenney will see big sales gains and profits in the first quarter, Johnson said.
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