USA: JC Penney Profits More Than Double
Department store giant JC Penney Co Inc was celebrating on Tuesday after its quarterly profits more than doubled as customers rushed to buy its stylish merchandise. The Texas-based retailer, which also owns the Eckerd drugstore chain, said first quarter net income to April leapt to $86 million, or 29 cents a share, from $41m, or 13 cents a share, in the year-ago period.