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JC Penney Plans To Pull Back »

Posted by: MyWayOnNow 6 months, 2 weeks ago

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JC Penney had a slimmer-than-expected fourth-quarter profit drop, but said this year's earnings will miss Wall Street's forecasts and reined in its store-growth plans on a downbeat view of the economy.

Read Full Story at nypost.com

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MyWayOnNow6 months, 2 weeks ago

"Penney's quarterly profit fell nearly 10 percent, to $430 million, or $1.93 a share. Revenue dropped 4 percent to $6.39 billion. The company sees 2008 earnings of $3.75 to $4 a share, short of analysts' projections of $4.02 a share."

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