Feb 27 J.C. Penney Co Inc on Wednesday
reported that sales at stores open at least a year fell 31.7
percent in the fourth quarter, steeper than the 27.8 percent
drop analysts were expecting.
Penney, in the midst of a difficult turnaround, report a net
loss of $552 million, or $2.51 per share in the 14 weeks ended
Feb. 2, compared to a loss of $87 million, or $0.41 per share
for a 13-week period a year earlier.
The department store chain had $930 million in cash and cash
equivalents at the end of the quarter.