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

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.

(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.

Sales at stores open for at least 12 months fell 5.5% in the first quarter, its sixth straight quarterly drop. Analysts, on average, had expected a 4.21% fall, according to IBES data from Refinitiv.

(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.

(Reuters) – J.C. Penney Co Inc reported a surprise. which offer deep discounts on apparel. Penney, which caters mainly to lower-income shoppers, joins its closest rivals in reporting a drop in same.

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J.C. Penney fell as much as 22 percent earlier today, the the biggest intraday drop since. have seen some sales improvement because of the retailer’s woes. Sears Holdings Corp. is headed toward six.

J.C. Penney posts steeper-than-expected drop in same-store sales. 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 categories, sending its sh. Read more on Reuters. 37 days ago.

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In the fourth quarter, J.C. Penney posted a profit and same-store sales growth of more than 4%. According to the report in the New York Post, poor sales in April forced J.C. Penney to take.

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

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(Reuters) – J.C. Penney Co Inc (JCP.N. which offer deep discounts on apparel. Penney, which caters mainly to lower-income shoppers, joins its closest rivals in reporting a drop in same-store sales.

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