Penney swings to loss of $163M

Home » Business» Retail Loading… BLADE STAFF AND NEWS SERVICES Facebook Twitter Reddit Digg E-mail Print Rss PLANO, Texas — J.C. Penney Co. Inc. reported Tuesday that it lost $163 million, or 75 cents a share, in the three months ended April 28. That compares with a profit of $64 million, or 28 cents a share, in the year-ago period. Revenue dropped 20 percent to $3.15 billion. Revenue at stores opened at least a year — a figure the retail industry uses to measure a company's health — fell 18.9 percent. To help fund its ongoing overhaul, the company