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J.C. Penney to Revive Coupon Now Johnson Out, Ackman Says

J.C. Penney Co. will reverse Ron Johnson’s strategy of reducing discounts and put coupon advertising in newspapers again, said William Ackman, the activist investor who recruited the ousted chief executive.

Johnson, who was replaced by Myron E. Ullman III on April 8, implemented a pricing strategy that eliminated almost all of the company’s discounts and promotions in favor of everyday low prices. Shoppers shunned the department store chain, and sales sank 25 percent last year.