JC Penney Outlook Spooks Wall Street

PLANO (CBSDFW.COM/AP) — J.C. Penney is reporting a first-quarter loss along the lines of what analysts had expected, but also strong revenue.
The company’s outlook for the year is short of most projections, however. Shares slid 5 percent early Thursday.
Shoppers walk past signage for a JC Penney department store. (credit: Drew Angerer/Getty Images)
The loss was $78 million, or 25 cents per share. The loss, adjusted for one-time items, was 22 cents per share.
Marvin R. Ellison, chairm