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J.C. Penney holiday sales fell 0.8 percent, shares slide

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J.C. Penney holiday sales drop in latest setback to sector

J.C. Penney holiday sales drop in latest setback to sector*/

– Customers ride the escalator at a J.C. Penney store in New York August 14, 2013.REUTERS/Brendan McDermidJ.C. Penney Co Inc (JCP.N) reported a decline in same-store sales for November and December, the latest department store chain to reflect the malaise in the sector as shoppers increasingly eschew brick-and-mortar stores and shop online.The company’s shares fell as much as 5.9 percent to $7.40 in early trading on Friday, hitting their lowest in seven months.
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J.C. Penney holiday sales fell 0.8 percent, shares slide

J.C. Penney holiday sales fell 0.8 percent, shares slide*/

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Despite a ‘disappointing’ holiday sales season, J.C. Penney says it’s on track for fourth quarter profit

Despite a 'disappointing' holiday sales season, J.C. Penney says it's on track for fourth quarter profit*/

– Enlarge Fewer shoppers flocked to J.C. Penney this year for holiday purchases, leading the… moreAnalysts called J.C. Penney’s holiday season “disappointing” after the retailer posted a decline in comparable sales over nine weeks in November and December.The Plano company reported Friday a 0.8 percent slump in same-store sales during the two-month period, down significantly from a 3.9 percent bump during the same period last year.CEO Marvin Ellison blamed the decrease on softness in women’s apparel, though the retailer saw strong sales in its appliance, outerwear, boots, toys, Sephora and fine jewelry categories.
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