J.C. Penney Company reported another big loss on a nearly 12 percent drop in revenue for the second quarter, underscoring big challenges the retailer is facing as it tries to recover from a botched ... more 
J.C. Penney Company reported another big loss on a nearly 12 percent drop in revenue for the second quarter, underscoring big challenges the retailer is facing as it tries to recover from a botched transformation plan spearheaded by ousted CEO Ron Johnson. Shares in emerging economies fell again as investors braced for the phasing out of an American central bank stimulus program that has shored up markets for the past few years. Best Buy's second-quarter net income rose sharply, helped by cost-cutting and legal settlements. J.C. Penney on Tuesday reported sales at stores open at least a year fell 11.9 percent in the second quarter, during which it reverted to a promotions-heavy strategy to try to halt a sharp sales decline. less 
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Wochit
Tue, Aug 20, 2013 11:13 AM EDT