On Friday, J.C. Penney will open its first new home goods sections, which are planned for 500 of its 1,100 stores. The new shops are part of a larger plan to turn the chain's larger stores into a collection of shops with one-of-a-kind goods; it's the cornerstone of the turnaround strategy by CEO Ron Johnson, who helped pioneer Target's "cheap chic" home goods strategy in the 1990s.

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