J.C. Penney Co. reported another big loss on a nearly 12 percent drop in revenue for the second quarter, underscoring big challenges the retailer is facing as it tries to recover from a botched transformation plan spearheaded by ousted CEO Ron Johnson.
August 20, 2013 at 08:00 AM
1 minute read
J.C. Penney Co. reported another big loss on a nearly 12 percent drop in revenue for the second quarter, underscoring big challenges the retailer is facing as it tries to recover from a botched transformation plan spearheaded by ousted CEO Ron Johnson
The results, released Tuesday, mark the sixth straight quarter of big losses and steep revenue drops for the retailer.
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