Dive Brief:
- J. C. Penney managed to increase net sales by 1.5%, to $3 billion, in the second quarter compared to the year-ago period, even as a mass of store closures and liquidations weighed on the companys margins, according to a company press release. The sales figure narrowly beat the FactSet consensus of $2.92 billion, according to MarketWatch. Comparable sales fell by 1.3%.
- The department store retailers profit numbers disappointed Wall Street as the company posted a net loss of $62 million, or 20 cents per share, compared to a net loss of $56 million in Q2 last year. FactSet consensus had anticipated a 4 cent loss, according to MarketWatch. While the retailer reduced its administrative expenses by $…
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