Penney's has replenished its capital by drawing down $850 million from its credit facility — a fallback source of funding retailers try to avoid using. But the sheer amount of the cash spent illustrates the challenges facing chief executive officer Myron "Mike" Ullman 3rd as he refocuses the retailer. Penney's lost nearly $1 billion last year and sales fell 25 percent as Ron Johnson's effort to transform the chain failed to take hold.