NEW YORK — J.C. Penney says it hasn’t hired any advisers to prepare for an in-court restructuring or bankruptcy.

The company statement Friday came after investors were rattled by a report saying the company was hiring experts to help restructure its debt.

Citing anonymous sources, Reuters reported Thursday that Penney has held discussions with lawyers and investment bankers who work with struggling companies on debt restructurings.

Penney’s shares fell nearly 17% Friday.

Penney continues to maintain strong liquidity but faces a $4 billion debt bill in the next few years.

The department store chain based in Plano, Texas, said it routinely hires outside advisers to evaluate opportunities. But it cited its strong liquidity position and noted it doesn’t have any significant debt maturities due in the near term.

American Express 2Q profits rise 9%, beating expectations

NEW YORK — American Express posted a 9% gain in second-quarter profits on Friday, helped by more of its cardmembers carrying a credit card balance and increased spending on its namesake cards.

The New York company said it earned a profit of $1.76 billion, or $2.07 a share. That’s up from earnings of $1.62 billion, or $1.84 a share, in the same period a year earlier. Analysts were looking for AmEx to earn $2.03 a share, according to FactSet.

Its cardmembers spent $311.7 billion on its cards worldwide in the quarter, up from $296.5 billion a year earlier. Individual U.S. cardmember spending rose to $5,445 in the quarter, up from $5,275 in 2018.

American Express makes most of its money from fees it charges merchants to accept their cards. The more money spent by consumers at these merchants, the more AmEx earns in processing fees.