J.C. Penney 4th-quarter same-store sales fall 31.7 percent
Feb 27 (Reuters) - J.C. Penney Co Inc on Wednesday reported that sales at stores open at least a year fell 31.7 percent in the fourth quarter, steeper than the 27.8 percent drop analysts were expecting.
Penney, in the midst of a difficult turnaround, report a net loss of $552 million, or $2.51 per share in the 14 weeks ended Feb. 2, compared to a loss of $87 million, or $0.41 per share for a 13-week period a year earlier.
The department store chain had $930 million in cash and cash equivalents at the end of the quarter.
- U.S. war veteran released by North Korea returns home |
- Pennsylvania newlyweds "just wanted to murder someone together:" police
- Ice storm causes blackouts, delays in Texas, Arkansas
- WTO overcomes last minute hitch to reach its first global trade deal
- China's parliament: Japan has "no right to criticize" air defense zone