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JC Penney Turns Second Quarter Profit

Plano-based JC Penney says its turned a second-quarter profit as the department store chain benefited from tight inventory control and exclusive brands. The company says it earned $14 million — or 6 cents per share — in the three months ended July 31. That compares with a loss of $1 million, — or break-even per share — in the same quarter last year.