JC Penney company reported a decline in the second quarter revenue of nearly 12% of another big loss.
Results, announced on Tuesday, emphasize retailers face a big challenge, because it is trying to restore its ousted CEO RON Johnson led a botched reform plan.
Headquarters is located in plano, Texas, said the department store, during the three months ended August 3rd, it lost $586 million, or $2.66 a share. Loss compared with the same period of last year to $147 million, or 67 cents a share.
Operating income of $2.66 billion, down $3.02 dollars.
Analysts' estimates of $1.07 per share loss of $2.77 billion in revenue.
Same-store revenue at least a year fell by 11.9%, more than 8.3% of the analysts' expectations even worse.



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