February 27, 2020 / 12:42 PM / in a month

J.C. Penney's holiday-quarter comparable sales beats expectations

Feb 27 (Reuters) - J.C. Penney Co Inc on Thursday reported a smaller-than-expected fall in quarterly comparable sales, buoyed by demand for women’s apparel.

Sales at stores open for more than a year fell 7% in the fourth quarter ended Feb. 1, compared with expectations of a 7.3% slide, according to data from IBES Refinitiv.

Net income fell to $27 million, or 8 cents per share, from $75 million, or 24 cents per share, a year earlier, mainly due to the company’s restructuring initiatives and a gain in the year-ago quarter. (Reporting by Nivedita Balu in Bengaluru; Editing by Saumyadeb Chakrabarty)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below