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Several big retailers are trading much higher on Wednesday.
JCPenney shares are at an all-time low and below where they first traded publicly early in 1978.
JC Penney left its outlook for the rest of the year unchanged.
J.C. Penney is closing up to 140 stores to ‘effectively compete against the growing threat of online retailers’
J.C. Penney beat on earnings but missed on sales for the fourth quarter. The retailer also announced a big wave of store closings.
Shares are down more than 13%.
JC Penney reported a third-quarter earnings loss on Friday morning, and it was smaller than expected.