By and  on November 21, 2013

“We’ve turned the corner.”

That was the upbeat assessment of J.C. Penney Co. Inc.’s chief executive officer Myron E. “Mike” Ullman 3rd in a conference call to Wall Street analysts. And while the company reported a substantially wider third-quarter loss compared with a year ago — $489 million versus $123 million — Ullman’s optimism spread to the retailer’s shares, which jumped 8.4 percent to close at $9.44 on the New York Stock Exchange.

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