J.C. Penney's comparable-store sales fell at a lower pace than expected, as...
FILE PHOTO: A shopper leaves the J.C. Penney department store in North Riverside, Illinois, U.S., November 17, 2017. REUTERS/Kamil Krzaczynski/File Photo
The company, once a storied name in American retail and today worth less than a tenth of its value two years ago, has also shuttered hundreds of stores, exited unprofitable businesses and revamped its locations to boost sales and revive profits. The company said it would continue to streamline its business, announcing plans to shut 18 full-line stores this year and nine ancillary home and furniture stores.
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