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J.C. Penney posts steeper-than-expected drop in same-store sales

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The Plano, Texas-based company said sales at stores open for at least 12 months fell 5.5% in the first quarter, marking its sixth straight quarterly drop. Analysts’ on average h

(Reuters) – Same-store sales fell more than expected at J.C. Penney Co Inc in the first quarter and its net loss nearly doubled after the retailer exited its appliance and in-store furniture.

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(Reuters) – J.C. Penney Co Inc reported a steeper-than-expected fall in quarterly comparable-store sales on Tuesday after the retailer exited its appliance and in-store furniture categories.

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Same-store sales fell more than expected at J.C. Penney Co Inc in. and in-store furniture businesses, sending shares down more than 9% on Tuesday.. 12 months fell 5.5% in the first quarter, its sixth straight quarterly drop.

(Reuters) – Same-store sales fell more than expected at J.C. Penney. 12 months fell 5.5% in the first quarter, its sixth straight quarterly drop.

Same-store sales tumbled by 5.5% in the quarter and 0.1% for the full year. Analysts were looking for a first-quarter drop of around. only that it expects to post positive free cash flow in the.

PLANO, Texas – J.C. Penney Co. Inc. reported a steeper-than-expected fall in quarterly comparable-store sales on Tuesday, taking a hit from.

(Reuters) – J.C. Penney Co Inc reported a steeper-than-expected fall in quarterly comparable-store sales on Tuesday, taking a hit from not selling major appliances and in-store furniture, sending its shares down 10% in early trading. The company said exiting those categories cut comparable sales by 20 basis points.

UPDATE 2-J.C. Penney same-store sales fall more than expected, shares drop. May 21 (Reuters) – J.C. Penney Co Inc reported a steeper-than-expected fall in. least 12 months fell 5.5% in the first quarter, its sixth straight quarterly drop.. pay for 17 million but 1.3 million would lose their jobs, CBO says.

May 21 (Reuters) – J.C. Penney Co Inc reported a steeper-than-expected drop in quarterly comparable-store sales on Tuesday, hit by the exit from selling major appliances and in-store furniture.