JCPenney posts huge 4th-quarter loss; shares tumble

Embattled retail giant JCPenney Co. Inc. posted a fourth-quarter net loss of $552 million, bringing its full fiscal-year loss to $985 million, compared to a $152 million loss the year before, The Wall Street Journal reported.

The total cost for the company's first year under CEO Ron Johnson, who arrived at Penney with great fanfare from Apple in November 2011, totaled approximately $4.3 billion. Penney's shares slumped Wednesday in extended-hours trade.