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

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