Getting your player ready...
NEW YORK — Cutting costs and selling more exclusive brands like Liz Claiborne drew new customers and helped J.C. Penney Co.’s fourth-quarter profit rise 36 percent, the company said Friday.
Penney’s reported net income of $271 million, or $1.13 per share, for the three months that ended Jan. 29. That compares with $200 million, or 84 cents per share, in the same period last year. Revenue rose 2.8 percent to $5.7 billion.
Analysts expected earnings of $1.11 per share.
