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.)
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