Friday, August 12, 2016

Penney posts loss on lower than expected sales gain

J.C. Penney on Friday reported a smaller-than-expected loss, but the recovering department store's revenues fell just shy of expectations. 

Penney's comparable sales also fell just short of Wall Street predictions, rising 2.2 percent. A Thomson Reuters estimate expected the company to post a 2.4 percent gain. That metric turned slightly negative in the first quarter, following nine quarters of flat or positive results.. . . more

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