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

(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, sending shares down 10% in premarket trading. The retailer, which earlier this year said it would stop.

In fact, analysts are expecting a ninth straight quarterly drop. J.C. Penney: A buy or a sell? Investors will be looking for a possible glimmer of hope though. According to a report in The New York.

J.C. Penney posts worse-than-expected drop in same-store sales, shares drop Penney Co Inc reported a steeper-than-expected fall in quarterly comparable-store sales on Tuesday, taking a hit from not selling major appliances.

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J.C. Penney Company, Inc. News: Did Same Store Sales Increase In November? J.C. Penney Company, Inc. (NYSE:JCP) posted a 0.9% increase in its same-store sales for October, which paints an impressive picture, but the implied two year sequential trend in the quarter is not healthy, and trends are not getting better as was expected, says a report from Sterne Agee analysts Charles Grom, Renato Basanta, and John Parke.

By Melissa Fares and Uday Sampath Kumar (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 businesses, sending shares down more than 9% on Tuesday.

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(Reuters) – J.C. Penney Co Inc reported a steeper-than-expected fall. its locations to boost sales and revive profits. Sales at stores open for at least 12 months fell 5.5% in the first quarter,

(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.

 · 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.

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