J. C. Penney Co.: The Dallas-based retailer...
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From Times Staff and Wire Reports
J. C. Penney Co.: The Dallas-based retailer reported a first-quarter profit of $154 million, up 20% from the same period a year ago. Revenue rose 6% to $3.8 billion. Net income in the year-ago period was reduced by $20 million because of the discontinuance of an interactive television shopping service. The company said improved store margins were offset by lower margins for catalogue merchandise and drug store operations.
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