J.C Penny First Quarter Performance Retrogression Began To Cut Annual Gross Profit Margin
As we said earlier, as the Nordstrom department stores retrogressed, the clothing industry and the apparel retailing industry caused panic and worry.
J.C Penny
On the body.
Obviously, J.C Penny first recorded its first decline in the ten quarter in the first quarter after winning the same trade in the first few seasons.
It is reported that in the first quarter of April 30, 2016, the group's
Same store sales
A 0.4% decline was recorded, while net sales fell 1.6% to $2 billion 811 million.
However, operating profit has improved, which has recorded an increase from last year's net loss.
In the first quarter, the group's operating profit changed from a loss of US $46 million to a record revenue of US $22 million.
The core profit margin EBITDA increased by 80% to $153 million.
The net loss is also shrinking to $68 million.
However, because of the whole of the United States
Retail environment
As a result of the slump in the industry, J.C Penny's share price fell 4.04%.
The group said it would reduce the gross profit margin from 40 to 60 basis points to 10 - 30 basis points.
At the same time, the group will also increase investment in e-commerce.
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