Briefs

Efforts by new J.C. Penney CEO Ron Johnson to shake up the ailing chain haven’t clicked with consumers. The retailer announced a $163 million loss in the first quarter and a 20 percent drop in sales. Johnson, former retail chief at Apple, has simplified product pricing into three tiers—everyday prices, monthly specials, and clearance—in an attempt to wean customers off discounts. Yet he acknowledged the company must do more to educate shoppers about the new strategy. In the earnings release, J.C. Penney also said it was discontinuing its 20¢-a-share quarterly dividend, a move that will free up $175 million a year in cash that could be devoted to the turnaround.

Verizon Wireless and AT&T are preparing to roll out shared-data plans this year. The idea: Let users buy a chunk of data per month that can be used for phones, iPads, and other wireless devices, an option that should appeal to families and small businesses on tight budgets. The carriers hope the new plans will reduce customer turnover. Yet neither is eager to be first to take the risk that the shared plans could cut what subscribers pay, while increasing network traffic. Consumers spent $62.7 billion on data plans last year.