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>> JCPENNEY Latest News

MAY 16, 2013 - TheStreet

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JCPenney Reports Loss, Tumbles After-Market

NEW YORK (TheStreet) - JC Penney was falling in after-hours trading Thursday after reporting a first-quarter loss of $348 million, or $1.58 per share. Net loss for the quarter totaled $289 million, or $1.31 a share when adjusted for charges related to the retailer's restructuring and management transition. Plano, Texas-based JC Penney said restructuring charges were $72 million. JC Penney disclosed last week that total sales dropped by 16.4% over the prior year, to $2.64 billion compared to year-earlier sales of $3.15 billion. The retailer also said comparable store sales declined ... Read More

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