NEW YORK (AP) -- J.C. Penney Co. reported a 36 percent drop in second-quarter profits Friday and issued a downbeat outlook for the current quarter as shoppers cut back on clothing spending in a tough economy.

The Plano, Texas-based department store chain said it earned $117 million, or 52 cents per share, in the three-month period ended Aug. 2, compared with $182 million, or 81 cents per share, a year earlier.

Total net sales fell 2.5 percent to $4.28 billion from $4.39 billion. Same-store sales, or sales at stores opened at least a year, fell 4.3 percent. Same-store sales are considered a key indicator of a retailer's health.

Analysts polled by Thomson Reuters expected earnings of 50 cents per share on revenue of $4.28 billion.

Penney said it expects third-quarter earnings to be in the range of 70 cents to 75 cents per share. A poll by Thomson Reuters projects 76 cents per share. The company also predicted that total sales would drop by a low-single digit percentage and that same-store sales would drop in the mid-single digits in the same period.

"In this difficult consumer environment, we have continued to focus on tightly controlling all aspects of our business, and our second-quarter results show the benefits of our approach," said Myron "Mike" Ullman, chairman and chief executive, in a statement.

The company reported that comparable-store inventory levels at the end of the second quarter were

Many people dream of retiring early, but few actually make it a reality.

Taking certain proactive measures, such as investing in a 401(k) in your 20s and eliminating debt, will help set you on the path to early retirement. But even if you achieve these goals, it's nearly impossible to know whether that nest egg will be enough to get by. You'll have to consider certain factors such as the lifestyle you'd like to maintain, the number of years before you start receiving Social Security checks (full benefits kick in between age 65 and age 67, depending on the year a person was born) and the unanticipated but costly health expenses that could pop up along the way.

In short, early retirement is possible, but it requires diligent saving and planning. Here are five key things you can do to improve your chances.

Start Early

It's a simple rule of thumb: The earlier a person starts saving for retirement, the better the odds are that they can retire early.

Thanks to compounding interest, investing in a 401(k) in your 20s — even if it's a small amount — will allow your savings to grow and multiply at a rate that would be hard to make up for later on in life. Say, at age 25 you contribute $5,000 a year to a 401(k) with a 7% annual return. By age 55, you'll end up with $543,000. If you start stashing $5,000 a year away at age 40, however, you'll only end up with $148,000 by age 55.

As you change jobs, make sure to roll over any 401(k) investments to your new provider. Otherwise, if you're younger than 59 1/2, you'll get cashed out of your 401(k) — after your holdings get hit with the

HERSHEY, Pa. (AP) -- The Hershey Co. said Friday it is raising prices on its products by an average of 11 percent as the nation's largest candymaker tries to stem the impact of soaring commodities costs, and trimmed its projections for 2008 and 2009.

The price increase was the second already this year for the candy company known for its Hershey's chocolate bars, bite-sized Kisses and Reese's peanut butter cups.

The immediate increase was necessary to offset "significant increases" in the cost of raw materials such as sugar, cocoa and peanuts -- up as much as 45 percent since the start of the year -- as well as the growing cost of fuel, utilities and transportation, Hershey said.

"Commodity costs have been volatile over the last several years and continue to remain at levels that are well above historical averages," Hershey's President and Chief Executive David J. West said in a statement.

The Hershey, Pa.-based chocolatier said its commodities costs will grow by more than $110 million this year -- a figure that could double in 2009.

Hershey's biggest domestic competitors, Mars Inc. and Nestle USA Inc., did not immediately respond Friday afternoon to questions about whether those companies have raised prices, or plan to.

Meanwhile, Hershey also narrowed its 2008 earnings and revenue guidance because of the price hikes.

LONDON -- The buck may be turning into a bull.

The U.S. dollar extended its recent rally against major currencies on Friday as commodities fell and European and Japanese economies faltered. After sliding for years, the dollar may finally be on the way back up, some analysts argue.

The currency rose against the pound for the 11th straight day on Friday, to $1.85 -- its longest winning streak in 37 years. As recently as July, one pound would buy two dollars. At the same time, the dollar climbed to its strongest level in almost six months against the euro, which fell to $1.47, and to near a seven-month high versus the yen.

So far, the trend has helped push oil prices lower. Long term, a stronger dollar has a range of consequences. It makes imports cheaper for Americans, and makes it more expensive for foreign companies to buy U.S. assets such as Anheuser-Busch Cos., which is being sold to Belgian-based brewer InBev for $52 billion.

A stronger dollar would probably come as a relief to many European businesses, too, since it makes their exports to the key U.S. market more price-competitive.

The dollar reached an all time low on July 15 of $1.60 to the euro, down from a peak of 82 cents to the euro in 2000. The dollar's decline is blamed on the large U.S. trade and budget deficits, investment flows out of the United States, and lately by interest rate cuts by the Federal Reserve.

Some think it's only up from here. The dollar is now benefiting from the widespread sense that prices for