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J.C. Penney has buyer for Plano HQ; expects to complete sale this quarter

from The Dallas Morning News

J.C. Penney said it has a contract to sell its 2 million-square-foot corporate campus in Plano, Texas, but provided no details as it reported a smaller-than-expected second quarter loss. "We're in due diligence phase and expect to complete it at the end of this quarter," chief financial officer Ed Record said during a conference call with analysts. It plans to use proceeds to pay down debt, but declined to provide other details. more


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