JCP investors look forward after first-quarter sales drop

05/7/2013 | Reuters · Wall Street Journal, The

J.C. Penney reported a 16.6% drop in first-quarter same-store sales, but the company used less cash than investors expected and share prices rose 1.6% in after-hours trading. Analysts and vendors expect sales to pick up later this year under the guidance of CEO Myron Ullman, who returned to the helm last month.

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Reuters · Wall Street Journal, The

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