The Traderszone Network

Published in TZ Latest News 11 November, 2016 by The TZ Newswire Staff

JC Penney Drops 9% As Earnings, Comps, And Forecast All Disappoint

Embattled retailer JC Penney Company Inc (NYSE:JCP) early today posted worse than expected quarterly earnings, as sales in established stores saw an unexpected downturn.

The Plano, Texas-based company reported a Q3 adjusted net loss of $0.21 per share, which is slightly worse than the $0.20 loss that analysts had expected. Revenues fell 1.4% from last year to $2.86 billion, also missing Wall Street’s view of $2.95 billion.

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