Daniels to speak at business seminar

Indianapolis Gov. Mitch Daniels will talk about what companies are doing to expand during the Growing Your Business in Indiana summit on Tuesday. It’s part of the state’s first Indiana Entrepreneurship Day.

The summit, on the eighth floor of 30 S. Meridian St., Downtown, is part of a series of yearly events by the Entrepreneurs’ Organization to mark Global Entrepreneur’s Week.

— Star report

J.C. Penney reports drop in earnings

New York J.C. Penney reported a 78 percent drop in its third-quarter earnings because of a big expense for its pension plan.

However, the department store retailer upgraded its profit and sales outlook Friday, because it is selling more goods at regular price and seeing less clearance discounting.

Penney’s Web site lists four stores in the Indianapolis area: Castleton Square, Greenwood Park, Plainfield’s Metropolis and Noblesville’s Hamilton Town Center malls. Penney’s also has a home-furnishings store in the Greenwood Park location.

The retailer, based in Plano, Texas, said it earned $27 million, or 11 cents per share, for the period ended Oct. 31. That compares with $124 million, or 56 cents per share, in the year-ago period.

Star news services