J.C. Penney Sees Key Sales Figure Down Despite CEO's Attempt At Turning Around Company

NEW YORK (CBSDFW.COM/AP) — J.C. Penney Co. dumped more bad news on investors Thursday, saying that a key sales measure for the year was expected to be down more than Wall Street expected.

The disappointing sales outlook came as the struggling department store chain delivered fourth-quarter profits that beat estimates.

But J.C. Penney is still trying claw its way back after a disastrous reinvention plan in 2012 by former CEO Ron Johnson, who dramatically cut back on promotions and brought in new brands with hopes of attracting younger shoppers.

Under a new CEO, Penney is trying to turn around the company.