Penney Rebound Gains Traction

Penney Rebound Gains Traction

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J.C. Penney Co. took another step away from the brink Thursday, when it reported higher sales, wider margins and a smaller quarterly loss.

Penney, which had lost more than $2.7 billion since early 2012, reported another loss of $172 million. But that result, for the quarter ended Aug. 2, was better than the $586 million loss a year earlier, and the company said its cash flow has improved faster than expected.

Penney shares…

Article source: http://online.wsj.com/articles/j-c-penneys-sales-keep-climbing-1408047112?mod=pls_whats_news_us_business_f

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