J.C. Penney sales fall short, net loss doubles; shares sink 10%
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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 at J.C. Penney Co Inc in the first.
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Clearly, the market couldn’t care less about J C Penney Company Inc (NYSE: JCP)’s Q1 earnings beat.Shares are down another 12 percent on Friday and are now down almost 20 percent in two days.
(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.
J.C. Penney Co. Inc. JCP, -1.83% share sank 8.8% in Thursday premarket trading after the retailer reported first-quarter sales that fell and the company cut its earnings guidance. J.C. Penney had.
J.C. Penney’s (NYSE:JCP) shares have been kicked to the curb this year as investors started to fear the impact of store closures on the company’s sales and earnings trajectory.J.C. Penney has.
J. C. Penney Company, Inc. JCP commenced fiscal 2018 on a dismal note.. JC Penney (JCP) Shares Plunge on Q1 Loss & Sales Decline.. generated total net sales of $2,584 million that decreased.
The retailer, which earlier this year said it would stop selling major appliances like refrigerators and washing machines, said that move cut comparable sales by 20 basis points. Same-store sales fell.
Shares of J.C. Penney dropped almost 8% in extended trading on the latest disappointing results. The company reported a net loss of $552 million, or $2.51 a share, compared with a loss of $87.
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