Friday, May 13, 2016

JC Penney shares fall after posting mixed results

Pedestrians pass a JC Penney store in New York.J.C. Penney's stock fell Friday after the retailer delivered mixed results for the first quarter.

Same-store sales fell 0.4 percent for the quarter, with Wall Street expecting a gain of 3.2 percent, according to FactSet.

Penney also reiterated its full-year earnings guidance, but lowered its profit margin outlook.. . . more

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