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25.05.2019 02:21:00

What Kohl's and J.C. Penney Executives Are Saying About Weak Q1 Earnings

On Tuesday morning, J.C. Penney (NYSE: JCP) and Kohl's (NYSE: KSS) became the latest department stores to report dismal first-quarter results. Comparable-store sales fell 3.4% at Kohl's and plummeted 5.5% at J.C. Penney. As a result, Kohl's recent streak of earnings growth ended, while J.C. Penney's loss more than doubled year over year.These results were even worse than what analysts had been expecting. This added to investors' anxiety about department stores' future prospects. Shares of both retailers have fallen more than 20% over the past month, with most of the damage coming this week.Continue reading
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