Myron Ullman has developed a list of immediate goals for turning around sales at J.C. Penney since returning as CEO five weeks ago, he told shareholders at the retailer's annual meeting Friday. According to Ullman, Penney's will use promotional marketing to reconnect with customers, rebuild its private-label brands, focus on customer service and revamp the company's online retail side so the merchandise mix complements what's in the stores.

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