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J. C. PENNEY Posts Wider Loss In Q1

J. C. PENNEY COMPANY, INC. reported that, for the three months ended May 2, 2020, loss per share was $1.69 compared to a loss of $0.48, previous year. Total net sales declined to $1.08 billion from $2.44 billion. The company cautioned investors and potential investors not to rely upon the first quarter financial statements, as they were not prepared for the purpose of providing any basis for an investment decision relating to any of the securities of the company.

For the month ended June 6, 2020, the company reported a loss per share of $0.46 compared to a loss of $0.03, last year. Total net sales declined year-on-year to $266 million from $1.00 billion. Also, the company cautioned not to rely upon the May 2020 monthly information.

On May 20, 2020, NYSE Regulation, Inc. filed a Form 25 with the SEC to delist J. C. Penney Company, Inc.'s common stock from the New York Stock Exchange. The deregistration will be effective 90 days, or such shorter period as the SEC may determine, after filing of the Form 25.

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