Company News: J.C. Penney, Time Warner Cable, BP

J.C. Penney will start offering holiday-related promotions, a departure from Chief Executive Officer Ron Johnson’s earlier plan to eliminate discounts and rely on everyday low pricing. The move, which investors cheered by bidding up the stock, comes after the retailer’s revenue fell at least 20 percent for the past three quarters. The sales will be tied to holidays such as Valentine’s Day, Easter, and Mother’s Day, and there will be fewer than 100 events a year, compared with almost 600 unique promotions in 2011, when Johnson joined the company. Johnson has been working to lure shoppers back through offers such as a $10 in-store coupon, free children’s haircuts, and free family portraits.

Time Warner Cable is raising rates on Los Angeles subscribers to help pay for rising sports costs, including a new network focused on the Dodgers. Customers in the area will pay $72.50 a month, 8.2 percent more than last year, for basic cable and can’t opt out of receiving the new channel, SportsNet L.A., which begins airing games in 2014. Costs for pay-TV operators are up almost 10 percent from a year ago, reflecting rising fees from sports networks and other broadcasters.