• J.C. Penney sinks 27 percent on forecast cut, fashion falls flat

    3 monthes ago - By Reuters

    J.C. Penney Co Inc shares sank below $2 for the first time on Thursday after it said it had alienated core middle-aged customers while chasing millennial buyers, and the venerable brand forecast an unexpectedly large loss.
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  • J.C. Penney sinks on forecast cut, fashion falls flat

    3 monthes ago - By Reuters

    J.C. Penney Co Inc shares sank below $2 for the first time on Thursday after it said it had alienated core middle-aged customers while chasing millennial buyers, and the venerable brand forecast an unexpectedly large loss.
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  • J.C. Penney shares dive 25 percent on forecast cut, weak results

    3 monthes ago - By Reuters

    Shares of U.S. retail chain J.C. Penney Co Inc sank below $2 for the first time on Thursday after it forecast a wider-than-expected full-year loss and posted disappointing results on the back of price cuts across product lines.
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  • J.C. Penney Fails to Benefit From Retail Spending Surge As Prospects Dim

    3 monthes ago - By Fortune

    This is one of the healthiest consumer environments in memory but you could hardly tell by looking at J.C. Penney's jcp latest batch of quarterly earnings.
    The struggling department store, dealing with the sudden defection of its CEO during the second quarter, boasted in its press release's headline on Thursday that it had “delivered positive sales comps for the quarter.” But sales at stores open at least a year and online sales rose a combined 0.3% during the second quarter, hardly anything to crow about amid a surge in consumer spending. Walmart wmt on Thursday reported its quarterly...
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  • JCPenney is tumbling after slashing its full-year guidance

    JCPenney is tumbling after slashing its full-year guidance

    3 monthes ago - By Business Insider

    Shares of JCPenney dropped 25% in early trading Wednesday after missing Wall Street's estimates.
    The reatiler also slashed its full-year guidance.
    "Inventory receipts continued to outpace total sales performance this quarter due to prior purchase commitments," said Chief Financial Officer Jeffrey Davis.
    Follow JCPenney's stock price in real-time here.
    Shares of JCPenney plunged as much as 25% in pre-market trading on Wednesday following the retailer's second-quarter earnings report, which fell short of Wall Street's expectations. The company also slashed its full-year forecast.
    For the...
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  • Penney posts bigger-than-expected loss, cuts outlook

    3 monthes ago - By Chron

    PLANO, Texas - J.C. Penney reported a bigger-than-expected loss in its fiscal second quarter as a key sales metric fell well short of Wall Street's view. The department store operator also cut its full-year forecast again, and its shares plunged more than 22 percent before the market open on Thursday.
    The report comes three months after the struggling department store chain saw its CEO Marvin Ellison depart for the top job at Lowe's after less than four years on the job.
    Ellison had tried to refocus J.C. Penney on home appliances and beauty, following a shift by consumers away from...
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  • J.C. Penney same-store sales miss estimates, shares tumble

    3 monthes ago - By Reuters

    J.C. Penney Co Inc on Thursday reported sales at established stores below analysts' estimates as the department store chain discounted heavily to clear inventory, sending its shares down 15 percent.
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