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... read more
Most read news
- 22:46 Freeman, Prince lead No. 21 Baylor past K-State, 82-72
- 21:59 FBI moves to seal off remaining Oregon occupiers
- 21:35 Nordic racing in Asia: Low temps, huge snow sculptures and camel...
- 21:33 Innocent volunteers do jail time for A&E reality show
- 21:29 Surprise! Kanye gave his album ANOTHER new name, and track list
- 21:03 Service dog program cheers inmates, veterans
- 21:03 Facebook helps feds bust Detroit gang
- 20:56 Brennan: USOC taking measures to ease worries over Zika virus
- 20:34 Iowa ‘death with dignity’ bill sparks emotional debate
- 20:30 Indy officials face lawsuit alleging misuse of civil forfeiture funds