J.C. Penney profit tops view; sees Q1 loss (Reuters)

A customer enters a JC Penney Co store in Westminster, Colorado August 14, 2008. JC Penny on Thursday will report on its earnings. (Rick Wilking/Reuters)Reuters – Department store operator J.C. Penney Co Inc posted a 51 percent drop in fourth quarter profit on Friday, and said its loss in the current quarter would be deeper than Wall Street estimates as shoppers hold off on spending.

Leave a Reply