JC Penney falls on chief’s return

Myron Ullman’s return to the helm at JC Penney unnerved investors yesterday, as analysts said his experience was welcome but was not a cure-all for the retailer’s sliding sales. Shares were down 7% in early trading. They rose almost 11% late on Monday after JC Penney said it had ousted CE Ron Johnson, but the stock slid when it said Mr Ullman was back.