Penney Posts Losses

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J. C. Penney Co. Inc. posted net income of $430 million for the fourth quarter, a 3.6% decrease from net income of $477 million in the prior year.

The firm reported net sales of $6.4 million for the quarter ended Feb. 2, a 4.1% decrease from $6.7 million last year.

The direct marketer and retailer posted an 13.7% increase in Internet sales during the quarter.




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