J.C. Penney Co Inc reported a smaller-than-expected quarterly loss on Wednesday but said same-store sales were flat and slightly cut its full year revenue forecast, sending shares of the department store chain lower in extended trade.
J.C. Penney Co Inc
Breaking News
J.C. Penney Co Inc (JCP.N) named Home Depot Inc (HD.N) executive Marvin Ellison as its new chief on Monday, ending an 18-month search but barely allaying investor concerns over problems facing the money-losing department store chain.
A resurgence in spending helped by an improving U.S. economy bolstered back to school season sales for retailers in September, but stagnant wages may force more discounting in the coming months, keeping pressure on margins.
Sources said that no settlement talks are currently taking place between department store chains Macy's and J.C. Penney Co. on their dispute over Martha Stewart-branded home goods.
Martha Stewart Living Omnimedia Inc and retailer Macy's Inc on Thursday announced the settlement of a lawsuit it filed against the former over a partnership deal with department store chain J.C. Penney Co Inc in 2011.
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