Penney records bigger-than-expected loss in 2Q

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NEW YORK (AP) — Six months after J.C. Penney Co. launched a new pricing plan, customers still aren’t buying it.

The mid-price department store chain reported a bigger-than-expected loss and plummeting sales during the second quarter, as its customers remain confused by the new pricing strategy that ditched hundreds of sales in favor of every day lower prices. The plan was introduced Feb. 1.

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