JCPenney Cuts Outlook After Losses Bigger Than Expected

PLANO (AP) – JCPenney reported a bigger-than-expected loss in its fiscal second quarter as a key sales metric fell well short of Wall Street’s view. The department store operator also cut its full-year forecast again, and its shares plunged more than 22 percent before the market open on Thursday.
The report comes three months after the struggling department store chain saw its CEO Marvin Ellison depart for the top job at Lowe’s after less than four years on the job.
Ellison had