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JC Penney Shares Tumble 25 Percent

PLANO, United States — JC Penney Co. shares tumbled the most since they began trading in 1980, hurt by deeper losses and a sense among investors that department stores are stuck in an intractable slide.

The rout followed a warning by the company that a massive inventory liquidation would bring a flood of red ink in the third quarter, renewing the sense that department stores are losing ground to e-commerce. The shares fell as much as 25 percent in the wake of the…
The Business of Fashion

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