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Deloitte: Shoppers’ belts remain tight despite improving economy
New York -- Survey results by Deloitte, released Tuesday, found that even as the economy improves, 94% of Americans indicate they will remain cautious and keep their spending for food, beverage and household goods at its current level.
According to Deloitte's 2013 American Pantry Study, 92% indicated they have become more resourceful, and 86% say they are getting more precise in what they buy -- attitudes that have remained consistent in the three years Deloitte has conducted the study, and across income levels.
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J.C. Penney taps $850 million from credit facility
Plano, Texas -- J.C. Penney Co. on Monday announced it has drawn $850 million from its $1.85 billion revolving credit line. The company said it 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.