Under $5… It was over $10 5 months ago.
J.C. Penney (NYSE:JCP) reports comparable sales fell 3.5% in Q1 to miss the consensus estimate for a 0.7% drop. Strength was cited by management for the Home, Sephora, Fine Jewelry and Salon businesses.
Gross margin was reported at 36.3% of sales vs. 36.2% a year ago and 36.1% consensus. SG&A expenses were 31.2% of sales.