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CIT Taking Cautious Approach With J.C. Penney

Firm is planning to add a 1 percent surcharge for vendors shipping goods to the chain, according to a financial source.

A PERCENT FOR PENNEY’S: CIT is said to be taking a more cautious approach to the ailing J.C. Penney Co. Inc. and is planning to add a 1 percent surcharge for vendors shipping goods to the chain, according to a financial source.

Both Penney’s and CIT declined to comment on the surcharge, which was first reported by Dow Jones.

This story first appeared in the March 15, 2013 issue of WWD.  Subscribe Today.