JCPenney Holiday comparable sales decline 7.5 percent

J. C. Penney Company, Inc. announced that its comparable store sales for the combined nine-week period ending January 4, 2020 decreased 7.5 percent. The company said in a statement that adjusted comparable store sales, which exclude the impact of the company’s exit from major appliance and in-store furniture categories, decreased 5.3 percent.

The company also reaffirmed its financial guidance for full year fiscal 2019. JCPenney expects comparable store sales in a range of negative 7 percent to negative 8 percent; adjusted comparable store sales, which excludes the impact of the company’s exit from major appliances and in-store furniture categories in a range of negative 5 percent to negative 6 percent and adjusted EBITDA expected to exceed 475 million dollars.