By  on August 14, 2011

J.C. Penney Co. Inc., slowed by markdowns and middle market consumers fretting the economy, reported second-quarter profits were flat at $14 million while same-store sales were ahead 1.5 percent.

On a per share basis, income rose 16.7 percent to 7 cents from 6 cents in the quarter ended July 30. Total sales were down 0.8 percent to $3.9 billion from $3.93 billion, reflecting the company’s exit from the catalogue business.

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