PLANO, Texas (AP) _ J. C. Penney today announced its June same-store sales fell 8.2 percent, but the numbers beat the expectations of analysts.
The Plano-based department store chain also narrowed its loss estimate for the second quarter.
Analysts polled by Thomson Reuters had expected same-store sales to fall 9.3 percent.
Same-store sales, or sales at stores open at least a year, are a key indicator of retailer performance.
Penney now says it expects to report a second-quarter loss of 8 cents to 12 cents per share.
It previously had predicted a loss of 15 cents to 25 cents per share.
Sales results were better in the Southwest and worse in the Southeast.
(Copyright 2009 by The Associated Press. All Rights Reserved.)
KRLD Community Hero - 11/20/09
This week's KRLD Community Hero is a 7th grader who has created her own charity to help a local shelter, as well as an orphanage in Mexico.
Baylor Health Report - 11/19/09
Are you one of the millions of Americans taking a statin to lower your cholesterol? Good news: researchers say it’s working. But they also had some bad news.
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