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Dave Cohen for CBS News NEW Orleans The latest financial report from J. C. Penney shows that they were in mortgage that they thought I suffered an operating loss of $477 million over the past three months leading up to May 2nd of this year. That is about 40% Mohr than they told investors based off their preliminary report they received During that same time period last year, they faced a loss of only $93 million. An impairment charge could be the reason for that increase. J. C. Penney's isn't net loss in the quarter came to about $546 million.

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