January 9, 2019 / 11:41 AM / 2 months ago

CORRECTED-OFFICIAL-BRIEF-J C Penney Comparable Store Sales For 9-Week Ended Jan. 5, 2019 Fell 3.5 Pct (Jan 8)

(Corrects period in headline, second and fourth bullet to nine-week period ending “Jan. 5, 2019”, from “Jan. 5, 2018”) J C Penney Company Inc:

* JCPENNEY REPORTS HOLIDAY SALES UPDATE AND REAFFIRMS EXPECTATION TO DELIVER POSITIVE FREE CASH FLOW IN FISCAL 2018

* J C PENNEY COMPANY INC - COMPARABLE STORE SALES FOR COMBINED NINE-WEEK PERIOD ENDING JAN. 5, 2019, DECREASED 3.5% ON A SHIFTED BASIS

* J C PENNEY COMPANY - REAFFIRMED EXPECTATIONS TO REDUCE INVENTORY IN EXCESS OF $225 MILLION OR 8% AND EXPECTS TO END YEAR WITH LIQUIDITY IN EXCESS OF $2 BILLION

* J C PENNEY COMPANY - FOR COMBINED NINE-WEEK PERIOD ENDING JAN. 5, 2019, ON UNSHIFTED BASIS, COMPARABLE SALES DECREASED 5.4%.

* J C PENNEY COMPANY - TO INITIATE 3 PRELIMINARY STORE CLOSINGS IN SPRING AS PART OF ONGOING EVALUATION OF STORE PORTFOLIO OVER NEXT FEW MONTHS Source text : (bit.ly/2RjJ1fq) Further company coverage:

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