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
- 18:49 Amazon rival Jet.com raises $350M Series B
- 18:41 Obama honors 'extraordinary' Medal of Freedom recipients
- 18:33 Washington university cancels classes over hate speech
- 18:22 How to get the most out of your credit cards over the holidays
- 18:11 Fact check: Trump, Carson on 9/11 ‘celebrations’
- 18:08 Armour: Johnny Manziel remains more frat boy than NFL quarterback
- 17:47 Reports: Student loan defaults continue to rise
- 17:43 Tom Jones, timeless sex symbol, is a family man
- 17:35 Davis Cup to proceed despite terror warnings in Belgium
- 17:35 At Doha's Education City, 'pioneers' cut Western education path