Penney Tries Out High(er) End The Wall Street Journal reports J.C. Penney (JCP) is launching a new line of moderately- priced apparel aimed at the "California cool" woman. The collection called ALLEN B. will initially be on offer in 600 of J.C. Penney’s 1 083 stores.Some question the higher-priced strategy as consumers continue to cut back in spending. The company reported a 12.4% decline in sales for September and slashed its third-quarter earnings forecast. Professor Scott Reeves mentioned Penney recently in an installment of Quick Hits. From the Bull Pen: In retail bulls can consider Amazon (AMZN) for a trade. Although the ...