J.C. Penney sees no need to raise cash this year - CEO

Reuters

(Reuters) - J.C. Penney Co Inc (JCP) Chief Executive Myron Ullman, responding to concerns about the company's liquidity, said he does not expect the retailer to need to raise cash this year.

J.C. Penney shares, which fell in early trading, rebounded to rise 6 percent after CNBC reported Ullman's comment, citing a source.

(Corrects paragraph 2 to remove reference to interview)

(Reporting by Siddharth Cavale in Bangalore; Editing by Saumyadeb Chakrabarty)

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