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J.C. Penney’s Q3 losses greater than anticipated; same-store sales fall 26.1%
Dallas -- J.C. Penney Co. Inc. on Friday reported a 26.1% decline in third-quarter same-store sales, more than the 17.9% that Wall Street analysts were expecting.
Overall sales fell 26.6% to $2.93 billion. Internet sales fell 37.3% to $214 million.
The company said that its net loss narrowed to $123 million in the third quarter ended Oct. 27, from $143 million a year earlier. The loss was wider than analysts had expected.
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Kohl's posts earnings boost in Q3, updates outlook
MENOMONEE FALLS, Wis. — Kohl’s third quarter sales increased 2.6% to $4.5 billion, and comparable-store sales were up 1.1%, in line with the company's expectations.
The retailer's net income for the third quarter rose 14% to 91 cents per diluted share. Net income was $215 million compared with $211 million, or 80 cents per diluted share, a year ago.