J.C. Penney reported that fine jewelry showed the weakest sales performance for 13-weeks ending February 3, 2008, which was the company's fourth quarter. Total sales in quarter fell 4.1 percent to $6.39 billion and profits fell 10 percent to $430 million. Same-store sales fell 2.3 percent. Earnings per share fell 8 percent to $1.93.

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