Friday, October 27, 2017

J.C. Penney warns of poor results as it slashed prices on slow-moving merchandise

Image result for jcpenneyJ.C. Penney cut its outlook for full-year results on Friday saying it accelerated markdowns in the third quarter ended in October to move out slow-moving apparel, primarily in women's, it's largest department.

The company said it now expects 2017 comparable store sales to be flat or down 1 percent versus its most recent guidance for sales to be up as much as 1 percent. Penney also slashed adjusted full-year earnings per share.. . . more

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