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J.C. Penney tops views in first quarter; same-store sales up 6.2%
Dallas -- J.C. Penney topped expectations for the first quarter, reporting a 6.2% increase in same-store sales that easily topped views. Revenue for the quarter, which ended May 3, rose to $2.80 billion, above the $2.71 billion analysts expected, up from $2.64 billion in the year-ago period.
It was the second consecutive month of same-store sales gains for Penney, and the retailer said sales improved sequentially each month within the quarter.
Penney lost $352 million for the quarter, not as much as analysts expected.
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Hole in one for Target’s exclusive C9 by Champion line
Golfer Blayne Barber will partner with C9 by Champion, Target’s exclusive line of activewear, while competing on the Web.com Tour this season. The 24-year-old Lake City, Fla., native joins a roster of 12 other athletes supported through Target’s athlete program, and is the first to represent the C9 by Champion brand.