Rebound impressive, but more big hurdles await J.C. Penney
J.C. Penney’s sharply improved second-quarter results were impressive, but the retailer has big hurdles to overcome before it can start to repay its debt.
Customer traffic is still down from a year ago, Penney said Thursday as it announced that its second-quarter sales were up 6 percent. Penney also sharply cut its losses.
Analysts believe Penney needs to get back $2 billion to $3 billion of the $5.6 billion in sales it lost in 2012 and 2013, when a reinvention of the department store failed, sending Penney shoppers elsewhere.
That’s the big-picture call for J.C. Penney, said Piper Jaffray... read more
- 08:11 3 wounded by gunfire in 2 separate Sunday night shootings
- 08:00 Florida man may face execution in death of missing Alabama boater
- 08:00 3 wounded by gunfire in 2 separate Sunday night shootings
- 07:58 University of Phoenix suitors sweeten offer
- 07:58 Facebook rips up the tech-investing playbook
- 07:47 Massachusetts home burns hours after family moves in
- 07:43 Donald Trump in Indiana: 'Pretend we're losing because we have to...
- 07:35 Elephants perform at Ringling Bros. and Barnum & Bailey Circus for...
- 07:31 Appeals court refuses to expunge former assistant Pelham...
- 07:31 Should this be Alabama's new state motto?