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Penney’s Ekes Out a Monthly Profit as Bankruptcy Deadline Looms

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Bankrupt J. C. Penney managed to close out the June selling period with a profit instead of a loss. Penney’s reported $47 million in net income for the month ended July 4 versus a net loss of $25 million for the year-ago period, per a Securities and Exchange Commission filing Friday. For the five months…

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