JCPenney to Cut TV Spend

Retailer plans to invest more marketing cash in print

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In a bid to reverse some major losses in the second quarter, JCPenney is cutting back on its television spend.

Speaking to investors during the company’s earnings call last Friday morning, JCPenney CEO Ron Johnson acknowledged that while the retailer’s marketing push “got a lot of attention…in many ways, it overreached.”

Penney in the first half of the year “spent [its] marketing money in the wrong way,” Johnson said, adding that the media fix included “too much TV [and] not enough print.”

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