J.C. PENNEY STOCK SINKS AS COLD WEATHER ZAPS SALES

Cold weather had a chilling effect on J.C. Penney’s latest quarter, plunging the retailer’s stock. The company reported a net loss of $78 million in the quarter ended May 5, with just

0.2% growth in sales at stores open at least a year. J.C. Penney blamed a cold April. Its stock dropped more than

11% Thursday.