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Posted Saturday, December 5th, 2015 at 4:58 am by in .Edit this post More in

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The struggling department store operator expects to raise upto $932 million from a share sale, leaving it with about $2.2billion in cash at the end of the year. Penney, whose shareshave been hit by concerns it doesn’t have enough cash to fundoperations going into the holiday shopping season, said onFriday that without the offering it would have about $1.3billion in cash by the end of the year – about $200 million lessthan it had forecast on Aug. 19.

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