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J.C. Penney Co. to Upgrade Stores, Expand: The Plano, Texas-based retailer said it plans to open 100 stores by 1998, spending $700 million to build the new outlets and modernize existing ones, company President Barger Tygart said. The company now owns 1,250 stores nationwide. Tygart said Penney has been making progress in updating its private-label offerings, including St. John’s Bay for women, Arizona jeans and a new line for teenagers called Zonz. He said the company is also broadening its men’s clothing offerings with the Stafford Options line. Tygart said Penney is continuing to see strong sales in national brands such as Levi’s Dockers.