Wednesday 12 December 2018
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wn.com - 27 days ago

JC Penney withdraws profit guidance, cuts sales outlook

PLANO, Texas (AP) — Shares of J.C. Penney plunged before the opening bell after the company withdrew profit guidance and lowered its sales expectations for the year. Sales at stores open at least a year, a key gauge of a retailer s health, declined 5.4 percent. Analysts were calling for a 0.5 percent decline, according to FactSet. The numbers were bad even in the context of a company long up against the ropes. To deliver a comparable sales decline of...

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