Reuters - Video

Edition: US | UK | IN | CN | JP

video Finance Videos

Wall Street gets Fed reality check
Wall Street gets Fed reality check - 01:51
Reuters Today: Spanish yields seen rising at auction
Reuters Today: Spanish yields seen rising at auction - 06:21
Surprise services boost points to UK recovery
Surprise services boost points to UK recovery - 02:54
Breakingviews: Do as I say, not as I do – German wages
Breakingviews: Do as I say, not as I do – German wages - 05:04
Market Pulse: Spain under fire as investors shun bond sale
Market Pulse: Spain under fire as investors shun bond sale - 03:28
Myanmar's Kyat begins managed float
Myanmar's Kyat begins managed float - 01:59
ASEAN: territorial code of conduct draft by year-end
ASEAN: territorial code of conduct draft by year-end - 01:48
U.S. Morning Call: Stock futures down, JPMorgan to be fined
U.S. Morning Call: Stock futures down, JPMorgan to be fined - 02:08
EMEA Day Ahead:: Thursday
EMEA Day Ahead:: Thursday - 03:13
3XSQ: Customer funds in question; royal return
3XSQ: Customer funds in question; royal return - 05:44
Still cashing in? Hirst retrospective
Still cashing in? Hirst retrospective - 02:32
World's biggest car delivery center
World's biggest car delivery center - 02:41
FACTBOX: Titanic the movie sails again
FACTBOX: Titanic the movie sails again - 02:20
Trading at Noon: Wall St. down on lost hope for stimulus
Trading at Noon: Wall St. down on lost hope for stimulus - 02:48
Draghi holds rates, offers caution
Draghi holds rates, offers caution - 01:50
Breakingviews: Gun bubble redux
Breakingviews: Gun bubble redux - 02:51
Yahoo cuts 2,000 jobs
Yahoo cuts 2,000 jobs - 01:15
Easter egg panic in eastern Europe
Easter egg panic in eastern Europe - 01:28
Wealth Strategies: Equity rally has 3 years left in cycle
Wealth Strategies: Equity rally has 3 years left in cycle - 06:05
Congressional insider trading ban
Congressional insider trading ban - 01:17
Gas prices no detour for car buyers
Gas prices no detour for car buyers - 02:13
Demand for fuel-efficient cars will outlast spike in gas prices
Demand for fuel-efficient cars will outlast spike in gas prices - 02:36
Most engines of growth are in emerging markets : Nissan CEO
Most engines of growth are in emerging markets : Nissan CEO - 05:39
U.S. Day Ahead: GAP set to shine with same store sales
U.S. Day Ahead: GAP set to shine with same store sales - 01:59

J.C. Penney posts surprise drop in same-store sales, shares slide

Friday, November 11, 2016 - 01:14

Weak traffic and tough competition hurt J.C. Penney results as it continues to restructure . Bobbi Rebell reports.

▲ Hide Transcript

▶ View Transcript

A surprising drop in sales at retailer J.C. Penney. Shares of the retailer were lower after the miss, which was well below a more than 2 percent increase forecast by analysts surveyed by Thomson Reuters. The stock had been up on Thursday after rival stores like Macy's and Kohl's gave upbeat holiday forecasts. Penney reported lower revenue, and lowered its guidance for the year. While the retailer's net loss narrowed from a year earlier it was the 11st straight quarter without a profit. Reuters Jharonne Martis: SOUNDBITE: JHARONNE MARTIS, DIRECTOR OF CONSUMER RESEARCH, THOMSON REUTERS (ENGLISH) SAYING: "They had a major restructuring in their store. Consumers are not gravitating too much towards the apparel merchandise like they did in the past. They are more gearing towards the home furnishing sector so as a result we saw that JC Penney did a whole home fresh in their storere s to try to appeal more to the consumer that is trying to beautify their house, make it more appealing. The key problem: shoppers continue to flock to online retailers like Amazon, as well as discount chains like TJ Maxx. Penney's did see some success in its in-store Sephora departments, as well as home and fine jewelry.

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

Close

J.C. Penney posts surprise drop in same-store sales, shares slide

Friday, November 11, 2016 - 01:14