TribLIVE

| Business


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

J.C. Penney reports quarterly sales gain

On the Grid

From the shale fields to the cooling towers, Trib Total Media covers the energy industry in Western Pennsylvania and beyond. For the latest news and views on gas, coal, electricity and more, check out On the Grid today.

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.

Subscribe today! Click here for our subscription offers.

 

 


Show commenting policy

Most-Read Business Headlines

  1. Aerospace sales boost profit at Allegheny Technologies
  2. Paragon Foods’ growth, planned move in line with local produce demand
  3. Planned Smallman Place condos in Strip District selling fast
  4. Methane leaks reportedly decrease in Pennsylvania
  5. Israeli drugmaker Teva makes $40B unsolicited bid for Mylan
  6. Study links swarm of quakes in Texas to natural gas drilling
  7. American Eagle closing Marshall distribution facility by July
  8. Weak Appalachian coal market crimps supply chain
  9. MedExpress bought by United Health Group
  10. ‘Significant’ fine expected against Sunoco Logistics
  11. U.S. Steel puts 1,400 workers on notice to curb costs