J.C. Penney's stock tumble toward another record low [MarketWatch]
JC PENNEY (JCP)
Last jc penney earnings: 2/27 07:30 am
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Source: MarketWatch
J.C. Penney's stock tumble toward another record low Shares of J.C. Penney Co. Inc. JCP, -3.59% tumbled 2.6% toward another record low in active trade Thursday, amid broad weakness in the retail sector after apparel retailer J.Jill Inc.'s JILL, -51.31% profit warning. About 13.8 million shares had changed hands through midday, above the full-day average of 12.7 million shares. Meanwhile, the SPDR S&P Retail ETF XRT, -1.36% was down 1.3% at a 5-week low. J.Jill's stock plummeted 50% after issuing a profit warning late Wednesday, blaming "product and calendar issues" that are affecting traffic and conversion. J.C. Penney's stock, which closed at a record low on Wednesday, and two other fresh records earlier this month, has plunged 27% over the past three months and 59% year to date. In comparison, the retail ETF has gained 2.2% over the past three months, while the S&P 500 SPX, -0.03% has climbed 4.5%.
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