J.C. Penney reports flat profits

| Back | Text Size:

https://archive.triblive.com/local/local-news/j-c-penney-reports-flat-profits/

J.C. Penney reports flat profits

By Wire Reports

1 Min Read • Aug. 13, 2011 | 15 years Ago

| Saturday, August 13, 2011 12:00 a.m.

J.C. Penney Co. reported a flat second-quarter profit on Friday as the department store retailer aggressively marked down prices on fashions to get its middle income shoppers to keep spending in an increasingly uncertain economy.

Penney reported net income of $14 million, or 7 cents per share, for the three months ended July 30.

That compares with $14 million, or 6 cents per share, a year ago. Revenue fell to $3.91 billion from $3.94 billion in the year-ago period.

Email Newsletters