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J.C. Penney Company stock price
J.C. Penney Company latest news:
J.C. Penney sees bright holiday sales as its fortunes rise
J.C. Penney saw a sales uptick in the third quarter
After Two Year Tenure, J.C. Penney CEO Marvin Ellison Needs To Leave
J.C. Penney shares sink after profit warning
J.C. Penney Co. Inc. shares sank 6.6% in Friday premarket trading after the retailer revised its third-quarter guidance below estimates and issued a profit warning for both the third quarter and full year. The company now expects same-store sales to increase in the range of 0.6% to 0.8%, and adjusted losses per share are expected to be in the range of 40 cents to 45 cents. The FactSet consensus is for a same-store sales growth of 0.1% and a 17-cents loss per share. Fiscal full-year 2017 same-store sales are now expected to be flat to down 1% and adjusted earnings are expected to be 2 cents to 8 cents. The previous guidance was for same-store sales from a 1% decline to 1% growth and adjusted EPS of 40 cents to 65 cents. The FactSet consensus is for a same-store sales decline of 0.9% and EPS of 42 cents. The company took steps to sell off "slow-moving" merchandise, primarily across the women's apparel department, according to a statement from Chief Executive Marvin Ellison. The move gave a boost to sales in September and October, but hurt cost of goods sold and earnings in the short-term, he said. The company is also revising its expenses in order to align them with the same-store sales growth in appliances and omnichannel sales. J.C. Penney will announce third-quarter results on Nov. 10 before the opening bell. Shares are down 56% for the past year while the S&P 500 index is up 20% for the period and the Dow Jones Industrial Average surged nearly 29%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
J.C. Penney revamps its fine jewelry department with smartwatches and new bridal presentation
J.C. Penney Co. Inc. said Thursday that it will launch sales of smartwatches for the holidays, starting October 30. Brands will include Samsung, LG and Garmin. Wearables will be priced in the range of $155 to about $350, with an expanded assortment online. The retailer has also introduced a new Modern Bride concept, including new fixtures and merchandise presentation. Modern Bride began as a collaboration with Conde Nast in 2011. The fine jewelry department has been given a new trademark, JCPenney Co. Fine Jewelry, Est. 1902, and training for associates working in that department has been revamped in order to improve customer service. J.C. Penney shares are down 1.1% in Thursday premarket trading, and down more than 60% for the past year. The S&P 500 index is up 19.5% for the last 12 months.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
J.C. Penney's stock tumble toward another record low
Shares of J.C. Penney Co. Inc. tumbled 2.6% toward another record low in active trade Thursday, amid broad weakness in the retail sector after apparel retailer J.Jill Inc.'s profit warning. About 13.8 million shares had changed hands through midday, above the full-day average of 12.7 million shares. Meanwhile, the SPDR S&P Retail ETF was down 1.3% at a 5-week low. J.Jill's stock plummeted 50% after issuing a profit warning late Wednesday, blaming "product and calendar issues" that are affecting traffic and conversion. J.C. Penney's stock, which closed at a record low on Wednesday, and two other fresh records earlier this month, has plunged 27% over the past three months and 59% year to date. In comparison, the retail ETF has gained 2.2% over the past three months, while the S&P 500 has climbed 4.5%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Rite Aid, J.C. Penney Tumble into Monday’s 52-Week Low Club
Target's price cuts on 'thousands' of items sinks retailer stocks
Retailer stocks took a midday dive Friday, after Target Corp. said on its website that it had "lowered prices on thousands of items," fueling concerns over a price war amid a lackluster sales environment. Target's stock was down about 1.5% just before its announcement, but losses widened to 3.2% in afternoon trade. The discount retailer said the price cuts are an attempt to end customer uncertainty over the timing of discounts on certain products. "We want our guests to feel a sense of satisfaction every time they shop at Target," Chief Merchandising Officer Mark Tritton said in a statement. "Part of that is removing the guesswork to ensure they feel confident they're getting a great, low price every day." Shares of rival Wal-Mart Stores Inc. went from down 1.2% just before Target's announcement to down 2%. Elsewhere, shares of Kohl's Corp. shed 1%, J.C. Penney Co. Inc. gave up 1.7%, Macy's Inc. lost 1.4% and Nordstrom Inc. fell 0.5%. The SPDR S&P Retail ETF went from a loss of 0.4% to a decline of 1.3%, before recovering to be down 0.8%. Target's stock has tumbled 21.5% year to date, while the retail ETF has lost 9.0% and the S&P 500 has gained 10.1%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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