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

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(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’s new CEO Jill Soltau. but Soltau says she’s not ready to outline specific strategies. Penney posted a wider-than-expected same-store sales decline of 5.4 percent in the third quarter.

The year of transformation for J.C. Penney (NYSE:JCP. This article focuses on market chatter surrounding 4th quarter sales. Piper Jaffray is estimating a 32% drop in same store sales during the.

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. 2.4% comparable sales drop in the first half of fiscal 2017. The company saw same-store sales gain of 2.6% in the fourth quarter, which assisted it to post a tiny 0.1% comparable sales improvement.

J.C. Penney posts worse-than-expected drop in same-store sales, share drop, by 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.

J.C. Penney posts worse-than-expected drop in same-store sales, shares drop 5/21/2019 7:37:00 AM – Reuters Kohl’s chops profit forecast after dismal first quarter, shares slump

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May 21 (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.

J.C. Penney Co Inc (JCP) 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.

One of the oldest names in American retail, J.C. Penney has struggled to excite customers with its mid-priced clothing and has steadily lost out to fast-fashion brands an online shopping. The Plano, Texas-based company said sales at stores open for at least 12 months fell 5.5% in the first quarter, marking its sixth straight quarterly drop.

J.C. Penney posts steeper-than-expected drop in same-store sales. May 21 J.C. Penney Co Inc reported a steeper-than-expected drop in quarterly comparable-store sales on Tuesday, hit by the exit.

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