real-time news and commentary for investors
Tuesday, Oct 8
J.C. Penney higher after issuing update
- J.C. Penney (JCP) reports comparable store sales fell 4% in September to show an improving trend. Online sales finally showed some strength.
- The retailer warns that margins continue to be impacted by the clearance prices it has to offer to sell inventory left over from the first two quarters of the year.
- On liquidity, the company says it will have over $2B on tap at the end of the year after it takes into account the common stock offering. (PR)
- JCP +5.6% premarket.