Why J.C. Penney Stock Fell 30% in March [The Motley Fool]
JC PENNEY (JCP)
Last jc penney earnings: 2/27 07:30 am
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Source: The Motley Fool
The retailer's cash challenges convinced investors to step away from the stock last month. Demitrios Kalogeropoulos ( TMFSigma ) Apr 11, 2018 at 2:35PM What happened Department store chain J.C. Penney ( NYSE:JCP ) dropped 30% last month, compared to a 3% decrease in the S&P 500 , according to data provided by S&P Global Market Intelligence . That decline led to a new low for the stock, which is down over 90% in the past decade. JCP data by YCharts . So what March's slump came despite encouraging operating news from the retailer. After declining in each of the prior three quarters, fourth-quarter sales rose by nearly 3%, executives revealed on March 2. And improving gross profit margin helped net income jump to $254 million from $192 million a year ago. Image source: Getty Images. However, cash balances fell to below $350
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