Deals
Ackman Says He Will Be Patient on J.C. Penney Turnaround
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Pershing Square Capital Management LP’s William Ackman, the activist hedge fund manager, said he’s willing to be patient as J.C. Penney Co. pursues a turnaround.
“It takes time to get new product,” Ackman said today on CNBC’s “Squawk Box” program. “The question is how quickly is the customer going to understand the new pricing and the promotion? That will take some time.”