JC Penney reports wider quarterly loss
Published Fri, Aug 11, 2017 · 12:26 PM
[BENGALURU] Department store operator JC Penney Co Inc reported a wider loss as it margins took a hit from the liquidation of inventory in stores it was closing.
The company's net loss widened to US$62 million, or 20 cents per share, in the second quarter ended July 29, from US$56 million, or 18 cents per share, a year earlier.
Net sales rose 1.5 per cent to US$2.96 billion.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
Billionaire Geiger is said to near US$7 billion L’Occitane buyout
HCA beats first-quarter profit estimates on higher patient admissions
US FDA approves Pfizer’s gene therapy for rare bleeding disorder
EU toughens rules on Chinese fashion retailer Shein
Best World under fire from shareholders at AGM over dividends, director salaries
‘Extreme’ climate blamed for world’s worst wine harvest in 62 years