J.C. Penney trims losses, raises forecast
November 15, 2019
J.C. Penney has apparently made progress in cutting its losses, reporting a $97 million net loss in the third quarter, 41 percent lower than the same period in 2018. Top-line revenues continue to pose a challenge for Penney, which saw same-store sales fall 9.3 percent during the quarter. Penney upped its full-year operating profit forecast to $475 million.
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