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J.C. Penney ekes out small profit in 4th quarter
J.C. Penney ekes out small profit in 4th quarter

J.C. Penney swung to a small profit in the fourth quarter from a massive loss a year earlier. The improved results come even as the beleaguered retailer had a revenue shortfall. The company also said it expected a key revenue measure to increase from 3% to 5% in the current quarter, which would mark the second straight quarter of gains in more than two years. Investors were encouraged by the results, pushing shares up nearly 5%, or 29 cents, to $6.25 in aftermarket trading. Shares had risen 33 cents to $5.96 before the release of earnings data. The results, which cover the crucial holiday shopping season, show signs that Penney is making strides in recovering from a botched...

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