J. C. Penney (JCP) Sept. Comps Fell 10.9%; Cuts Q3 EPS Guidance Below the Street
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J. C. Penney Company, Inc. (NYSE: JCP) today reported sales for the month of September were $1.446 billion, a 10.9% decrease from $1.622 billion in the same month last year. Same store sales for the month were down 12.4%.
Sees October comps down low-double digits. Cuts Q3 EPS outlook from $0.70-$0.75 to $0.50-$0.60, versus the consensus of $0.70.
J. C. Penney Company, Inc., through its subsidiary, J. C. Penney Corporation, Inc., sells merchandise and services to customers through its department stores and catalog/Internet channels.
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