Getting your player ready...
NEW YORK — J.C. Penney Co. posted fourth-quarter profits that surpassed its expectations and issued an upbeat forecast for 2010 on Friday following a holiday season where it did all it could to avoid clearance discounting.
The department-store operator said Friday that net income was $200 million, or 84 cents a share, in the period ended Jan. 30. That compares with $211 million, or 95 cents a share, in last year’s fourth quarter. Sales slipped 3.6 percent to $5.5 billion.
