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Market Update : 
JC Penney Plunges 12%
Author: 123jump.com Staff
123jump.com
Last Update: 10:03 AM EDT March 28 2008



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JC Penney lowered its earnings estimate for the current quarter to 50 cents from 75 cents to 80 cents per share. The retailer that counts half of American families as its customers blamed lower than expected sales during Easter holiday. However, retailer did not lower its plan to open new stores and appears to keep spending money under is capital investments plan.

 

 

 

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