After spending the previous few years chasing after millennials, J.C. Penney Co. executives say they’re now centered on wooing one other elusive group: middle-aged mothers.

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The shift is the newest about-face for a retailer that has veered from one technique to the subsequent because it has cycled by three chief executives in practically seven years. The corporate is on the hunt for one more chief following the exit in Could of Marvin Ellison, who left to grow to be CEO of home-improvement chain Lowe’s Cos. Analysts and buyers say time is working out…

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