Getting your player ready...
NEW YORK — Tight inventory controls and exclusive store label brands pushed J.C. Penney Co. into profitability in the second quarter. But the department store cut its profit outlook for the rest of the year because of the uncertain economy.
J.C. Penney said Friday that it earned $14 million, or 6 cents per share, in the three months ended July 31. That compares with a loss of $1 million, or break-even per share, in the same quarter last year.
