JCPenney net sales drop 4.3 percent in Q1
9 days ago - By Fashion United
For the first quarter ended May 5, 2018, total net sales at J. C. Penney
Company, Inc. decreased 4.3 percent to 2.58 billion dollars compared to 2.70 billion dollars for the first quarter ended April 29, 2017. The company said, decline in total net sales was primarily the result of the 141 stores that closed in the second and third quarters of fiscal 2017. Comparable sales increased 0.2 percent for the first quarter.
Commenting on the first quarter trading, Marvin R. Ellison, JCPenney's
Chairman and CEO said in a media statement: "During the first quarter, we achieved a positive sales comp...
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J.C. Penney Sales Slip
9 days ago - By WWD
J.C. Penney cut its net losses for the first quarter ended May 5 down to $78 million from $187 million in the year-ago period.
But adjusted losses widened to $69 million from an adjusted loss of $2 million a year ago. Adjusted losses account for the sale of operating assets of $17 million this year and $117 million a year ago.
Comparable sales increased 0.2 percent in the first quarter. Total net sales decreased 4.3 percent to $2.58 billion from $2.7 billion a year ago primarily due to the 141 store closings last year.
Marvin Ellison, chairman and chief executive officer said that top line...
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