JC Penney Holiday Same-store Sales Fall 0.8%, Weighed Down By Weakness In Women's Apparel

By Ciara Linnane Markets MarketWatch Pulse

J.C. Penney Co. Inc. said Friday its same-store sales fell 0.8% in the nine-week holiday period, as strength in appliances, outerwear, boots, toys, Sephora and fine jewelry was offset by weakness in women's apparel. The department store chain said it is still targeting earnings before interest, taxes, depreciation and amortization of $1 billion for 2016. "We are also encouraged by a very strong performance in our e-commerce business, evidenced by double-digit growth," Chief Executive Marvin Ellison said in a statement. The company is expecting to deliver a fourth straight quarter of positive operating profit, he said. Shares slid 3.6% premarket, but are up 12.3% in the last 12 months, while the S&P 500 has gained 14%.

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