J.C. Penney Sells Lojas Renner

Sao Paulo, Brazil, J.C. Penney sold Brazilian chain Lojas Renner for $230 million, according to Gouvea de Souza, a Brazilian retail consultant. Lojas Renner is Brazil’s second-largest department store chain. J.C. Penney had a 98% stake in the company before the sale.

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