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J. C. Penney Q1 net sales cut in half

Christian Fernsby ▼ | July 1, 2020
J. C. Penney reported that for the three months ended May 2, 2020 net sales declined to $1.08 billion from $2.44 billion.
J. C. Penney
J. C. Penney   Net sales declined to $1.08 billion from $2.44 billion
The company cautioned investors and potential investors not to rely upon the first quarter financial statements, as they were not prepared for the purpose of providing any basis for an investment decision relating to any of the securities of the company.

Topics: J. C. Penney

For the month ended June 6, 2020, net sales declined year-on-year to $266 million from $1.00 billion. Also, the company cautioned not to rely upon the May 2020 monthly information.

On May 20, 2020, NYSE Regulation, Inc. filed a Form 25 with the SEC to delist J. C. Penney Company, Inc.'s common stock from the New York Stock Exchange. The deregistration will be effective 90 days, or such shorter period as the SEC may determine, after filing of the Form 25.