JC Penney, a US-based apparel and home retailer company, posted 55.6 per cent decline in its net sales to $1,082 million in first quarter(Q1) fiscal 2020 that ended on May 2, 2020, compared to sales of $2,439 million in the same period last year. Company incurred a net loss of $546 million (Q1 FY19: $154 million) during the reported quarter.
JC Penney, a US-based apparel and home retailer company, posted 55.6 per cent decline in its net sales to $1,082 million in first quarter(Q1) fiscal 2020 that ended on May 2, 2020, compared to sales of $2,439 million in the same period last year. Company incurred a net loss of $546 million (Q1 FY19: $154 million) during the reported quarter.#
Selling, general and administrative expenses for the quarter were $572 million ($856 million). Company reported an operating loss of $477 million ($93 million).
JC Penney, a US-based apparel and home retailer company, posted 55.6 per cent decline in its net sales to $1,082 million in first quarter(Q1) fiscal 2020 that ended on May 2, 2020, compared to sales of $2,439 million in the same period last year. Company incurred a net loss of $546 million (Q1 FY19: $154 million) during the reported quarter.#
Sales of women’s apparel during Q1 FY20 fell to $216 million ($515 million). Men’s apparel and accessories sales dropped to $213 million ($478 million). Women’s accessories, including Sephora came down to $170 million ($377 million). Sales of Home category were $145 million ($305 million). Footwear and handbags sales slipped to $117 million ($256 million).
ALCHEMPro News Desk (JL)
marketing@alchempro.com
