Some things may be on the horizon for J.C. Penney. (OTC:JCPN.Q). CEO Ron Johnson is trying to execute his vision of turning this company from a discount retailer focused on coupons to a higher-end retailer, to increase the sales per square foot. The good news is that sales per square foot have doubled in renovated stores.

The bad news is only 10 percent of stores are converted, and the proverbial faucet is beginning to trickle. This may be a problem for investors. It could take 1 billion and three years to complete, and profitability could derail the plan. To find out the fool scoop on J.C. Penney, view the following video with analyst Blake Bos.

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