TribLIVE

| Business


 
Larger text Larger text Smaller text Smaller text | Order Photo Reprints

J.C. Penney reports quarterly sales gain

By The Associated Press
Tuesday, Feb. 4, 2014, 10:21 p.m.
 

J.C. Penney said Tuesday that a key revenue measure rose 2 percent during its November-January quarter, which includes the crucial holiday shopping season. It's the first time since early 2011 that the retailer has recorded a quarterly sales gain.

Under former CEO Ron Johnson, who was ousted in April after 17 months on the job, Penney's sales plummeted and it recorded massive losses. The Plano, Texas-based company then brought back Mike Ullman as CEO.

The company's shares have lost about 86 percent of their value since early February 2012 when enthusiasm was high over Johnson's transformation plan.

 

 
 


Show commenting policy

Most-Read Business Headlines

  1. Trib 30 index drops nearly 5%
  2. Roundup: Huntington Bancshares to cut 200 jobs; Kennametal posts drop in 1Q profit; more
  3. It’s lights out for Bayer sign on Mt. Washington
  4. EPA talks on pollution limits trigger protests, arrests Downtown
  5. Software developers aim to ease crush of emails for businesses
  6. Fast-food scandals in China troubling for industry
  7. Target replaces interim CEO, names Pepsi’s Cornell
  8. French company Iliad bidding  for T-Mobile US
  9. Vitaminwater goes back to old formula because of outcry
  10. Investor helps Anchor Hocking’s parent win reprieve from lenders
  11. 3 things to know about Do Not Call registry
Subscribe today! Click here for our subscription offers.