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J.C. Penney Plunges to Historic Low After Surprise Loss Forecast

J.C. Penney Co. plunged 27 percent to a historic low after forecasting a surprise loss for the year amid clearance sales to get rid of a pile-up in unsold items. The struggling department-store chain, which has been without a chief executive since May, also posted a wider-than-expected loss for the quarter ended Aug. 4, and…

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