You can now read 10 articles each month for free on BostonGlobe.com.

The Boston Globe

Business

Market Movers

Penney slumps on holiday sales forecast

J.C. Penney Co. shares slid after UBS said holiday sales would likely be worse than expected and it questioned the retailer’s ability to roll out new shops on schedule. Penney last January revealed a turnaround plan that eliminated most coupons and sales events, and transformed its 700 largest stores into a collection of 100 shops. But customers balked, leading to a dramatic loss in business. Penney is expected to report quarterly results in late February.

Loading comments...

You have reached the limit of 10 free articles a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than $1 a week