Shares of J.C. Penney Co. Inc. shot up 21.1 percent to $7.22 in the first hour of trading on Wall Street today, a sign that investors were relieved to see both better fourth-quarter results and that the shadow of a Securities and Exchange Commission inquiry had been lifted.
The retailer reported a net profit of $35 million for the fourth quarter on a 2 percent gain in comparable-store sales. “We’ve restored calm and clarity of purpose with suppliers, shored up our financial position and have rebuilt Penney’s from the inside out,” said chief executive officer Myron “Mike” Ullman 3rd on Wednesday.
"I think that all anyone really wants in life is to have people understand us for who we actually are, despite everything," says Ruth Negga. The actress talks "Preachers" season 2 and more on WWD.com. #wwdeye (📷: Dan Doperalski)
"That's something that resonates with me too because I'm so locked into a number. If I go over that number it completely ruins my day so it's nice to get detached from the number on the scale." - Chelsea Handler on Kelly LeVeque's book "Body Love." #wwdeye (📷: John Salangsang)