By and  on February 13, 2013

Retail stocks bucked the market today as both J.C. Penney Co. Inc. and Inc. took steps forward.

Penney’s stock gained as much as 6.4 percent before closing up 1.8 percent to $19.61. The company said late Tuesday that it had increased the size of its bank credit facility by $100 million to $1.85 billion, with a $400 million accordion feature allowing for additional leeway. Investors had worried about how the company would pay for its conversion to a shops-in-shop layout in the face of steep sales declines.

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