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CIT Taking Cautious Approach With J.C. Penney

Firm is planning to add a 1 percent surcharge for vendors shipping goods to the chain, according to a financial source.

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A PERCENT FOR PENNEY’S: CIT is said to be taking a more cautious approach to the ailing J.C. Penney Co. Inc. and is planning to add a 1 percent surcharge for vendors shipping goods to the chain, according to a financial source.

Both Penney’s and CIT declined to comment on the surcharge, which was first reported by Dow Jones.