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J.C. Penney seeks up to $1 billion in equity
Plano, Texas – J.C. Penney Company Inc. reportedly seeks to raise $750 million to $1 billion in cash equity. According to Reuters, J.C. Penney, which is valued at $2.6 billion, is considering issuing new stock shares as well as other unspecified alternatives.
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J.C. Penney responds to critics
New York -- J.C. Penney on Thursday shot back at reports that its sales were weak in the late August and early September back-to-school season and said it was pleased with the progress of its turnaround efforts.
The company said it still expected positive comparable-store sales trends coming out of the third quarter and throughout the fourth, adding that its online sales continue to rise in double-digits over last year.