J.C. Penney Co Inc on Tuesday said that same-store sales in the first quarter of the fiscal year fell 16.6 percent.
The company, in providing preliminary, partial results for the quarter, also said it had $821 million in cash on hand as of May 4. The department store chain will report full results on May 16.
Continue Reading Below
(Reporting by Phil Wahba in New York; Editing by Bernard Orr)