Penney shareholders concerned about chain’s future
May 22, 2017
J.C. Penney shareholders expressed concern about the retailer’s prospects at its annual meeting held last week. Penny’s stock is currently trading below $5 a share following a first quarter where same-store sales declined 3.5 percent. Some investors have suggested that Penney seek to monetize its real estate holdings while others think it should pursue a sale.
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