Friday, February 28, 2020

J.C. Penney Q4 tops Street but warns sales decline will continue in 2020

Chain Store Age
J.C. Penney is not expecting much relief anytime soon in its sales performance.

The struggling retailer on Tuesday reported better-than-expected sales and earnings for its fourth quarter even as its sales continued to decline. Penney said it expects same-store sales in fiscal 2020 to be down 3.5% to 4.5%, excluding any impact from the coronavirus outbreak. . . . more