Company News: J.C. Penney, Al Jazeera America, Best Buy, Tesla Motors, U.S. Banks
J.C. Penney’s bummer of a summer; live, from New York, it’s Al Jazeera; and more
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• J.C. Penney is still struggling months after it replaced Chief Executive Officer Ron Johnson with his predecessor, Myron “Mike” Ullman. The department-store giant posted a $586 million loss in the quarter ended Aug. 3 as sales fell 12 percent from the year-earlier period. The retailer revived discounts but still lured fewer shoppers than last summer. A bright spot: Back-to-school sales are encouraging.