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Report: Home buyer leaves Penney

BY Marianne Wilson

New York — Paul Rutenis, the top buyer for J.C. Penney’s newly made-over home department, has left the company, according to a report by Citigroup.

According to Citigroup analyst Deborah Weinswig, the prices of many of the home items have reduced consumer demand.

In related news, Penney has decided not to renew its contracts with marketing consultants Sergio Zyman and Jeff Herbert, which expire this month, Weinseig noted.

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