J.C. Penney falls short of expectations


J.C. Penney fell short of analysts expectations, reporting this morning that sales were slow for the first three months of this year.

The department store chain has locations serving as anchors at the Dayton Mall, Fairfield Commons, Bridge Water Falls Shopping Center and the Miami Valley Mall.

Sales fell 4 percent in the first quarter, missing estimates. CNN Money said the retailer, like Sears, is “struggling to adapt to the changing retail landscape as people increasingly shop on their phones.”

RELATED: Macy’s beats expectations for first quarter

Marvin R. Ellison, chairman and chief executive officer, pointed to the cooler-than-normal spring as one reason for the slower sales.

“Although our overall top line sales results came in below our expectations for the quarter, we were encouraged by the strong positive comp performance throughout February and March, as well as the last two weeks of April, when temperatures began to normalize,” he stated.

For the first quarter, the J.C. Penney’s net loss was $78 million, though that was less than the loss of $187 million in the same period last year.

PHOTOS: Crowd welcomes the iconic Memphis Belle to its NEW exhibit at the Air Force Museum



Reader Comments


Next Up in Local

Downed wires get blame for outages in western Preble County, DP&L says
Downed wires get blame for outages in western Preble County, DP&L says

Downed wires are being blamed for power outages in western Preble County that affected an estimated 1,435 customers at the height of the problem, DP&L spokesman Kevin Hall said. Why the wires came down will be examined once service is restored to all customers, he said. The outages are focused in the area of New Westville, near the Ohio-Indiana border...
Grade school teacher on leave, accused of sexual contact with teenage boy
Grade school teacher on leave, accused of sexual contact with teenage boy

A 48-year-old kindergarten teacher at a Catholic elementary in Celina remains on administrative leave as police investigate charges accusing her of having an inappropriate sexual relationship with a 15-year-old boy. Heather Lynne Henry, a Celina resident and teacher at Immaculate Conception School, posted bond Tuesday night to earn her release from...
Wintry weather, including snow, arriving Thursday
Wintry weather, including snow, arriving Thursday

While much attention is focused on a storm headed here this weekend, there is another system that will bring the chance for wintry weather a few days beforehand. “We are tracking a system coming from the southeast that will tape into moisture from the Pacific Ocean and transport it across the country, then use the cold air in place across the...
Shutdown prompts early release of Montgomery County food assistance benefits
Shutdown prompts early release of Montgomery County food assistance benefits

Montgomery County residents who receive food assistance through the Supplemental Nutrition Assistance Program will have their benefit cards loaded early for February, courtesy of the ongoing partial federal government shutdown. Cards will be loaded between Jan. 16 and Jan. 31.  Prompted by the Department of Agriculture, the early release of food...
Brother stabs brother in dust-up over computer game, Dayton police say
Brother stabs brother in dust-up over computer game, Dayton police say

UPDATE @ 11:59 p.m.: A man stabbed his younger brother with a kitchen knife in a fight over a computer game, Dayton police Sgt. John Garrison said. The victim, 17, is in stable condition at Miami Valley Hospital, the sergeant said.  The suspect is 18. There were other people in the house on Shoop Avenue. No one else was injured. No arrest has...
More Stories