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JC Penney: In for a Penny, In for a Pounding

The department-store apocalypse continued today as JC Penney (JCP) tumbled more than 15% today after releasing earnings, joining other double-digit losers like Macy's (M) and Dillard's (DDS).

JC Penney reported a loss of 9 cents a share, missing estimates for a 5-cent loss, on sales of $2.96 billion, beating forecasts for $2.84 billion. Same-store sales fell...