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J.C. Penney reports wider quarterly loss
August 11, 2017 / 11:37 AM / 4 months ago

J.C. Penney reports wider quarterly loss

Aug 11 (Reuters) - Department store operator J.C. Penney Co Inc reported a wider loss as it margins took a hit from the liquidation of inventory in stores it was closing.

The company’s net loss widened to $62 million, or 20 cents per share, in the second quarter ended July 29, from $56 million, or 18 cents per share, a year earlier.

Net sales rose 1.5 percent to $2.96 billion. (Reporting by Sruthi Ramakrishnan in Bengaluru, Editing by Anil D‘Silva)

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