Consumers might still be uneasy, but Myron E. “Mike” Ullman 3rd, J.C. Penney Co. Inc.’s chairman and chief executive officer, said his confidence is growing — despite the company’s $1 million second-quarter loss and 7.9 percent sales decline.
“We’ve seen the volatility of our business narrow, and this stabilization has enabled us to be more thoughtful in planning our business,” Ullman told analysts on a conference call Friday. “We’re more confident coming into the third quarter than we were in the second quarter, albeit overall consumer demand is still lagging.”
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