RETAILING

J.C. Penney Profit Up Sharply: J.C. Penney Co. said fourth-quarter earnings from operations rose 25% as the retailer increased sales and cut costs. Net income from operations in the quarter ended Jan. 30 climbed to $375 million, or $2.85 a share, from $301 million, or $2.28, a year ago. Sales of the department store chain and catalogue company climbed 13% in the quarter to $6.1 billion. Penney’s catalogue sales, which account for about 17% of its total, should benefit from the demise of the Sears, Roebuck & Co. mail order operations. In the year-earlier period, Penney said, restructuring charges of $264 million, or $2.03 a share, resulted in net income of $37 million, or 25 cents.