J.C. Penney Second-quarter Same-store Sales Fall 11.9 Percent

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J.C. Penney Second-quarter Same-store Sales Fall 11.9 Percent

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J.C. Penney Second-quarter Same-store Sales Fall 11.9 Percent

by Wochit 0:57 mins

J.C. Penney Second-quarter Same-store Sales Fall 11.9 Percent

by Wochit 0:57 mins

J.C. Penney Company Incorporated reported sales at stores open at least a year fell 11.9 percent in the second quarter, during which it reverted to a promotions-heavy strategy to try to halt a sharp sales decline. Linda Hudson, chief executive of the U.S. unit of Britain's BAE Systems PLC , will retire early next year. Barnes & Noble founder Leonard Riggio's decision not to buy the bookseller, raises further questions about the company's future amid its previously announced plans to stop making its Nook line of tablets. Shares in emerging economies fell again as investors braced for the phasing out of an American central bank stimulus program that has shored up markets for the past few years.

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