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JCPenney: holiday sales down 7.5% at comparable stores

(CercleFinance.com) - JCPenney announces that its sales fell by 7.
5% y-o-y at comparable stores over the holiday period (nine weeks until 4 January). Adjusted comparable store sales, which exclude the impact of the Company's exit from major appliance and in-store furniture categories, decreased 5.3%.

For the full year, the retail group confirms that it expects an 8% fall in sales at comparable stores (-5% to -6% on an adjusted basis), with adjusted EBITDA of over 475 million dollars, with positive free cash flow.

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