Retail stocks rise; Penney pops on strong profit numbers |
MarketWatch - Feb 19, 2010 |
Retail stocks rose Friday, with J.C. Penney as one early standout following the department store chain's better-than-expected profit report.
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Penney was up almost 6% at $27.48 after it said that it earned $200 million, or 84 cents a share, for its fiscal fourth quarter, which encompassed the all-important Christmas shopping period. That is down from $211 million, or 95 cents a share, in the same quarter last year. The company would have earned $1.02 a share on an adjusted basis.
Sales came in at $5.55 billion, down 3.6%.
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- Posted: 2010-02-19 10:07:08
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