Penney posts bigger-than-expected loss, cuts outlook
(WorldNews Business)

NEW YORK - J.C. Penney reported a bigger-than-expected loss in its fiscal second quarter as a key sales metric fell well short of Wall Street´s view. The department store operator also cut its full-year forecast again, and its shares plunged 24 percent. The dismal report, released Thursday, illustrates the challenges awaiting whoever becomes the next CEO, after Marvin Ellison departed for the top job at Lowe´s in May after less than four years on the job. Penney said the board has...