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J.C. Penney cites improving sales in September; sees ample year-end liquidity
Plano, Texas -- J.C. Penney Co. on Tuesday said that it was making “solid progress” in its turnaround as it reported a smaller decline in same-store sales for September, compared to August. The company also said it expects that it will have ample liquidity at year end.
While Penney’s September same-store sales fell 4% over the same month last year, they showed an improvement of 580 basis points compared with August.