Investing.com - (NYSE:JC Penney) slumped Friday as comparable store sales fell 3.5% in the first quarter.
JC Penney shares were down 7.36% at $5.29 in pre-market trade at 08:45 ET.
Net sales were $2.7 bn, down from $2.8 bn a year earlier. Sales were estimated at $2.92 bn.
Adjusted net income per share was $0.06 against a loss of $0.32 a year earlier and a forecast loss of $0.21.
The retailer reaffirmed full-year guidance for comparable store sales within a range of minus -1.0% to 1.0%.
Adjusted EPS is estimated in a range of $0.40-$0.65.