J.C. Penney Posts Loss on Costs, No Word from CEO

J.C. Penney Posts Loss on Costs, No Word from CEO Play

Feb. 24 (Bloomberg) -- J.C. Penney Co., the U.S. department-store chain run by Apple Inc.’s former retail chief, posted a fourth-quarter loss on charges to revamp the company. The loss totaled $87 million, or 41 cents a share, compared with net income of $271 million, or $1.13, a year earlier. The company's earnings call was a recorded message with no comments from CEO Ron Johnson. Bloomberg's Sheila Dharmarajan reports on Bloomberg Television's "InBusiness With Margaret Brennan."

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