Loading…
Saturday, December 20, 2014
Current Weather
Loading Current Weather....
Published: Saturday, 8/11/2012

J.C. Penney stock climbs despite quarterly loss

BLADE STAFF AND NEWS SERVICES

NEW YORK -- J.C. Penney Co. stock rose the most in more than six months Friday after Chief Executive Ron Johnson said his overhaul of the department-store chain is "on track" amid quarterly losses and plunging sales. Penney climbed 5.9 percent to $23.40 at the close in New York, the biggest one-day gain since Jan. 26.

Second-quarter revenue slid 23 percent to $3 billion, the company said Friday. It said it lost $147 million, or 67 cents a share, in the quarter ended July 28. That compares with a profit $14 million, or 7 cents a share, a year ago.



Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. If a comment violates these standards or our privacy statement or visitor's agreement, click the "X" in the upper right corner of the comment box to report abuse. To post comments, you must be a Facebook member. To find out more, please visit the FAQ.