Company adjusts full-year guidance
PLANO, Texas – (Oct. 27, 2017) – J. C. Penney Company, Inc. (NYSE:JCP) today provided a preliminary update on its expected third quarter performance, following actions taken during the quarter to accelerate the liquidation of inventory. The Company’s fiscal third quarter ends Oct. 28.
“Based on the encouraging results from a third quarter reset in women’s apparel, which expanded our casual and contemporary offering, we made the strategic decision to accelerate a wider transformation of the entire women’s department by clearing slow-moving inventory primarily in women’s and other apparel categories. Following this comprehensive res…
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