J.C. Penney CEO Admits Pricing, Marketing Mistakes

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Aug. 10 (Bloomberg) -- Bloomberg's Sheila Dharmarajan reports that J.C. Penney CEO Ron Johnson acknowledges mistakes made in pricing and marketing as he spoke today on the company’s earnings call. J.C. Penney reported a second-quarter loss wider than expected and cut its annual profit forecast. She speaks on Bloomberg Television's "In The Loop."