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
- 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...
- 16:23 Rep. Bradley Byrne: Most of my constituents on Affordable Care Act...
- 16:21 Millennium girls soccer team seeks football-like crowd