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J.C. Penney exec accidentally discloses same-store sales growth data


Plano, Texas – A senior executive at The J.C. Penney Co. Inc. has accidentally disclosed same-store sales growth to date in the first quarter of fiscal 2015. In a filing with the Securities and Exchange Commission, Penney said the executive sent an email to an analyst including the information that same-store sales have increased 6% so far in the quarter, ending in May 2015, with the retailer expecting growth to total 3.5%-4.5% for the full quarter.

SEC regulations require a public company to share advance information with everyone if it is shared with anyone.

“On April 13, 2015, J.C. Penney Company Inc. became aware that a senior official of the company inadvertently sent an email communication to a securities analyst that contained non-public information regarding the company’s comparable store sales results for the fiscal first quarter of 2015 to date, which are approximately 6%,” said the filing. “Based on results to date, and taking into account the shift of Easter into the fiscal month of March this year, the company currently expects comparable store sales for the first quarter to be in the range of 3.5% to 4.5%.”

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