What's inside JCPenney? Three top executives share their vision of the company's future.(Interview)

Q As the business of apparel retailing has changed dramatically in the broadlines sector in the last few years, how have JCPenney's priorities evolved in the category?

A QUESTROM: We're beefing up [our] strong businesses--for example, what we're doing in fine jewelry--and we're culling out weak businesses so we can allocate the space to faster growth [areas].

Q What does that mean for the void you're creating by exiting the cosmetics business?

A QUESTROM: We're discontinuing the color and treatment part of cosmetics and reallocating the space to build dominance in the fashion jewelry and handbags businesses. This will make our center core more productive and become a true point of …