J.C. Penney (JCP) reports preliminary Q1 revenue of $2.635B, a mark which sits just short of the...

|About: J.C. Penney Company Inc. (JCP)|By:, SA News Editor

J.C. Penney (JCP) reports preliminary Q1 revenue of $2.635B, a mark which sits just short of the consensus estimate of analysts. A comparable store sales decline of 16.6% during the quarter is actually an improvement, but the retailer is starting to run up against soft comps. JCP +2.3% AH to $16.77 as the quarter for the retailer has some appearances of a bottoming out of the sales plunge with more home goods on tap for Q2.