Most investors know that J.C. Penney (NYSE: JCP ) lost over $1.3 billion last year. What you may not know is that in addition to the retailer's department store operations falling deep into the red, the company incurred numerous accounting charges throughout the year that contributed to the staggering loss. Motley Fool consumer goods analyst Sean O'Reilly walks Foolish investors through J.C. Penney's recent losses and explains that while the troubled retailer still needs to focus on bringing back customers, it will definitely get some help in improving the bottom line this year thanks to two key factors.
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