7 Reasons Why JC Penney’s Q2 Earnings Were Another Huge Disaster
Filed under: Company News, JC Penney
By Ira Kalb, Marshall School of Business, USC
JC Penney (JCP) has just reported even worse results for their second quarter than they had during their first quarter under new CEO Ron Johnson.
The first quarter results represented the company’s worst performance in four decades. The second quarter results just reported had losses of $147 million (or 67¢ per share), revenue was down nearly 23%, same store revenue for stores open at least a year fell 21.7%, and customers dropped by 12%.
…
7 Reasons Why JC Penney’s Q2 Earnings Were Another Huge Disaster originally appeared on DailyFinance.com on 2012-08-13T12:40:00Z.
Permalink | Email this | Comments
http://www.dailyfinance.com/2012/08/13/7-reasons-why-jc-penneys-q2-earnings-were-another-huge-disaster/