J.C. Penney posts steeper-than-expected drop in same-store sales

Joann Stores CEO Jill Soltau named JC Penney CEO (Reuters) – J.C. Penney Co Inc (JCP.N. which offer deep discounts on apparel. Penney, which caters mainly to lower-income shoppers, joins its closest rivals in reporting a drop in same-store sales.

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PLANO, Texas – J.C. Penney Co. Inc. reported a steeper-than-expected fall in quarterly comparable-store sales on Tuesday, taking a hit from not selling major appliances and in-store furniture, sending its shares down 10 percent in early trading. The company said exiting those categories cut comparable sales by 20 basis points.

J.C. Penney Co. JCP, -9.17% said its same-store. The Wall Street Journal reported earlier this week that Penney was expected to post an increase in October same-store sales. Penney suppliers.

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(Reuters) – J.C. Penney Co Inc reported a steeper-than-expected drop in quarterly comparable-store sales on Tuesday, hit by the exit from selling major appliances and in-store furniture categories, sending its shares down 10% in early trading.

(Reuters) – J.C. Penney Co Inc reported a steeper-than-expected fall in quarterly comparable-store sales on Tuesday, taking a hit from not selling major appliances and in-store furniture, sending its shares down 10% in early trading. The company said exiting those categories cut comparable sales by 20 basis points.

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J.C. Penney sales fall short, net loss doubles; shares sink By Melissa Fares and Uday Sampath Kumar May 21 (Reuters) – Same-store sales fell more than expected. its sixth straight quarterly drop..

By Melissa Fares and Uday Sampath Kumar (Reuters) – Same-store sales fell more than expected at J.C. Penney Co Inc in the first quarter and its net loss nearly doubled after the retailer exited its appliance and in-store furniture businesses, sending shares down more than 9% on Tuesday.

J.C. Penney posts steeper-than-expected drop in same-store sales 05/21/2019 (Reuters) – J.C. Penney Co Inc reported a steeper-than-expected drop in quarterly comparable-store sales on Tuesday, hit by the exit from selling major appliances and in-store furniture categories, sending its shares down 10% in early trading.

(Reuters) – Same-store sales fell more than expected at J.C. Penney Co Inc in the first quarter and its net. its sixth straight quarterly drop. Analysts, on average, had expected a 4.21% fall,