The revolving door continues to turn at Penney with the news that Ron Johnson-appointee Nick Wooster, SVP of product and design is out while company veteran Ken Mangone has returned to the fold.

JCPenney has drawn $850 million from its $1.85 billion revolving credit line and will use the proceeds to fund working capital requirements and capital expenditures, including replenishing inventory in anticipation of the completion of for its newly overhauled in-store home departments, which are due to be unveiled next month.

JCPenney is turning to Blackstone Group to help raise cash and better position itself financially, the Wall Street Journal reported.

A Tuesday report by Reuters said that embattled J.C. Penney Co. has recently revived its previously abandoned pricing strategy of raising prices on its own brands then discounting them as a way to spike sales and margins.

JCPenney Co. last Tuesday dominated the retail news as its shares dropped 10.6% to a four-year low after reports that one of its largest shareholders had sold a chunk of the troubled company’s stock.

Fouth quarter same store sales fell by a jaw-dropping 31.7% at J.C. Penney, but CEO Ron Johnson insisted the company continues to make great strides with its one year old transformation strategy.

JCPenney announced that Canada’s Joe Fresh brand will launch in JCPenney stores beginning March 15, with a collection of modern basics for women.

Michael Francis is among 10 top executives Advertising Age has singled out on a list of movers and shakers for 2013.

JCPenney has added limited-engagement collections from Lulu by Lulu Guinness, Jenny Packham and Double Happiness Vivienne Tam to its holiday assortment.

Popular women's magazine Cosmopolitan is leveraging its brand in the retail space by launching its first-ever fashion collection at JCPenney.