J.C. Penney's First-Quarter Plight

The department store chain warns of back-to-back monthly sales drops, as neither a new product line nor Oprah helped

For a second time this year, J.C. Penney (JCP) will miss its sales numbers. The department store chain warned on Mar. 28 that its sales at stores open a year or more will drop more than 10% in the month of March, which will also pull down sales and earnings in the quarter. That comes after a 6.7% sales drop in February.

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