J. C. Penney (JCP) reported a first quarter adjusted loss of $1.31 after the close Thursday. The consensus estimate was for a loss of $0.86. Total sales came in at $2.64 billion, a decline of 16.4 percent from the prior year. Same-store sales declined by 16.6 percent.
J. C. Penney gapped open lower Friday, but traded in a range for the majority of the session. Shares finished down by 0.78 at $18.01. The stock fell to a 1-week low.
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