11/21/2013

J.C. Penney trimmed its same-store sales decline to 4.8% in the third quarter from 27% a year ago and reported positive same-store sales for October, but the retailer's net loss hit $489 million as it liquidated old inventory and experienced a jump in shoplifting. The rise in theft came amid a transition from sensor security tags to radio tags that left merchandise temporarily unprotected, CEO Myron Ullman said.

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