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Retail stocks sag; J.C. Penney slips on earnings

SAN FRANCISCO (MarketWatch) — Retail stocks sagged early Thursday as J.C. Penney Co. said its quarterly profit dropped by almost half, hurt by declining mall traffic and increased discounts to clear unsold merchandise. Shares of J.C. Penney fell 0.4%. The department-store operator also said conditions will remain difficult through the year. Broadly speaking, the S&P Retail Index dropped 0.6%.
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Original post by Forextvblog

This entry was posted on Thursday, May 15th, 2008 at 9:50 am and is filed under Daily Forex Analysis. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

2 Responses to “Retail stocks sag; J.C. Penney slips on earnings”

  1. Converter Operators is the new black » Blog Archive » Quick scan of the net - converter operator Says:
    May 16th, 2008 at 2:03 pm

    […] http://www.dollardrops.com/dollar/2008/05/15/retail-stocks-sag-jc-penney-slips-on-earnings/… hurt by declining mall traffic and increased discounts to clear unsold merchandise. Shares of JC Penney fell 0.4%. The department-store operator also said conditions will remain difficult through the year. Broadly speaking, the [. … […]

  2. Converter Operators is the new black » Blog Archive » Fast Saturday links Says:
    May 17th, 2008 at 1:35 pm

    […] http://www.dollardrops.com/dollar/2008/05/15/retail-stocks-sag-jc-penney-slips-on-earnings/… hurt by declining mall traffic and increased discounts to clear unsold merchandise. Shares of JC Penney fell 0.4%. The department-store operator also said conditions will remain difficult through the year. Broadly speaking, the [. … […]

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