J.C. Penney Co. gained in New York trading after analysts at Cleveland Research said deeper promotions this month have increased sales by bringing more shoppers into stores.
The shares rose 2.9 percent to $18.24 at the close. The Plano, Texas-based company’s shares have slid 7.5 percent this year, compared with a 15 percent increase for the Standard & Poor’s 500 Index.
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