The Canadian PressFebruary 4, 2014 11:02
NEW YORK, N.Y. - The first increase in more than two years for a key sales measure at J.C. Penney was not enough to win over Wall Street, which punished the retailer's shares.
The company's stock plunged almost 11 per cent Tuesday, closing at $5.08.
Sales in established stores, a key measure of a retailer's health, rose 2 per cent during the November-January quarter. But analysts had expected a 4.2 per cent increase, according to FactSet estimates.