JC Penney reported third-quarter earnings on Friday and cut its forecast for sales this year amid weakness in apparel.
The retailer said it saw comparable-store sales — at locations open
for at least one year — growing between 1% and 2% in the full year 2017.
That's down from previous guidance of 3% to 4%.
Its comparable-store sales in the third quarter fell 0.8%, missing analysts' forecast for a gain of 2.7%. . . . more