Fashion and luxury sales fall off a cliff [CNNMoney.com]
JC PENNEY (JCP)
Last jc penney earnings: 2/27 07:30 am
Check Earnings Report
US:NYSE Investor Relations:
ir.jcpenney.com
Company Research
Source: CNNMoney.com
Millions of jobs are at risk as fashion and luxury sales fall off a cliff New York (CNN Business) The retail industry has been decimated by the coronavirus pandemic, and much of the destruction has landed on luxury and fashion companies. People have stopped shopping at stores, and many online shoppers are holding back on discretionary purchases. That has left luxury and fashion companies "exposed or rudderless," and business will sink by as much as 30% this year, according to a new report released Wednesday from trade publication Business of Fashion and consulting firm McKinsey & Company. According to the report, which surveyed 1,400 fashion professionals, luxury good makers and retailers will be hit the hardest: Sales are expected to decrease as much as 40%. Fashion and luxury employees are facing "hardship and destitution." Hundreds of thousands of retail workers have been furloughed, stores are closed and the disease has sent investors and consumers running scared.
Show less
Read more
Impact Snapshot
Event Time:
JCP
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
|
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
|---|---|---|
|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
| Last Price | ||
| VWAP | ||
|
High:
|
Max Up |
High:
|
|
Low:
|
Max Down |
Low:
|
|
%
|
Post news range |
%
|
|
|
Price change |
|
|
|
Price Change Percentage |
|
|
|
S&P 500 (SPX) |
|
|
%
|
Volume ratio |
%
|
| Volume | ||
| Ticks | ||
|
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
JCP alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
JCP alerts
High impacting JC PENNEY news events
Weekly update
A roundup of the hottest topics