J. C. Penney reports Q1 loss

Posted online May 13, 2016 | 11:34 am

The J. C. Penney Co. posted a first-quarter net loss of $68 million, or 22 cents per share.

However, the figure narrowed from a net loss of $150 million, or 49 cents per share, a year earlier.

Net sales decreased 1.6 percent to $2.8 billion. J. C. Penney joins rivals Macy's and Kohl's in reporting a drop in sales.

Read more from Reuters.

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