JCP - J.C. Penney's Credit Metrics Continue To Deteriorate
Source: Barron's
Heading into the holiday season several retailers were struggling. Many gave the impression that strong holiday sales could change the narratives. As revelations poured in about disappointing holiday sales, the stocks of several retailers cratered. Last month, J.C. Penney (JCP) revealed its holiday sales declined:
J. C. Penney Company, Inc. announced today that its comparable store sales for the combined nine-week period ending Jan. 4, 2020 decreased 7.5%. Adjusted comparable store sales, which exclude the impact of the Company's exit from major appliance and in-store furniture categories, decreased 5.3%.
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