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>> J.C. PENNEY Latest News

FEB 28, 2013 - MarketWatch

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J.C. Penney slumps 18% after loss, sales decline

NEW YORK (MarketWatch) - J.C. Penney Co. shares were down 18% in premarket trading on Thursday after the company reported a bigger-than-expected 32% drop in fourth-quarter same-store sales. Chief Executive Ron Johnson, who was brought in to turn around the firm, acknowledged Wednesday he made some big mistakes and said he takes responsibility for them. Analysts expected same-store sales to be down by 27.8%, according to a Thomson Reuters poll. J.C. Penney had a net loss of $552 million or $2.51 a share, compared to a loss of $87 million or 41 cents a share a year earlier.Market Pulse ... Read More

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