J.C. Penney Co. Inc. shares endured a heavy sell-off Thursday as most U.S. retailers and global indices enjoyed a strong day.
While the majority of U.S. retail stocks rose in Thursday’s trading sessions, J.C. Penney posted the biggest decline in the sector following its dismal fourth-quarter earnings report Wednesday. Shares plunged $3.59, or 17 percent, to close at $17.57. Sears Holdings Corp., which managed to narrow its fourth-quarter loss from a year ago, slipped 5.2 percent to $45.
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