J.C. Penney Reports Quarterly Loss After Restructuring Costs

J.C. Penney Co., the U.S. department-store chain run by Apple Inc.’s former retail chief, posted a fourth-quarter loss on charges to revamp the company.

The loss totaled $87 million, or 41 cents a share, compared with net income of $271 million, or $1.13, a year earlier, the Plano, Texas-based retailer said in a statement. Excluding restructuring costs, profit was 74 cents a share. Analysts projected 67 cents, the average of 12 estimates.