Faith in a J.C. Penney turnaround was shaken after the retailer reported its fourth quarter. Investments in revamping its department stores throughout the year hit the company’s bottom line hard with an adjusted net loss of 19 cents a share far worse than expected profits of 11 cents a share. The retailer earned 11 cents a share in the year-ago quarter. Total sales climbed 2.9%, at the midrange of the company’s previous guidance, and above analysts’ estimates. More importantly, J.C. Penney’s outlook for full-year 2015 looked a little light. Comparable-store sales are expected to climb 3% to 5%, compared to a 4.4% increase over 2014.
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