J.C. Penney surprises investors with improved results
J.C. Penney surprised investors Thursday as it sharply cut its losses and reported its third consecutive quarter of sales increases.
The company also said that CEO Mike Ullman is recovering from a “surgical procedure” but is expected to be back soon. Ullman, 67, wasn’t on the conference call with analysts.
The Plano-based retailer reported a second-quarter sales increase of 6 percent as part of its critical turnaround this year. The recent sales gains are welcome after Penney lost one-fourth of its business in 2012 and 2013 under a failed attempt to reinvent the department store by former... read more
- 16:57 DPS: Trooper rescued 16-year-old sex slave during traffic stop near...
- 16:46 Last question for Obama as POTUS goes to reporter from his Illinois...
- 16:40 Obama's parting message: We're going to be OK
- 16:34 Peoria Fire-Medical offers free citizen academy
- 16:34 Animal cruelty investigation underway in Queen Creek
- 16:34 2017 Arizona Storytellers Project schedule
- 16:34 Birmingham lawyer sentenced for $431,141 theft from clients
- 16:26 Texas society's Black Tie & Boots party among DC's largest...
- 16:21 Millennium girls soccer team seeks football-like crowd
- 16:09 6 civilians killed in rebel strike in Yemen's Taiz