J.C. Penney Co. expects September catalog sales to be down about 20%.
Sales of department stores open at least one year likely fell in the low single digits on a percentage basis as seasonal items like sweaters sold weakly in the most recent week, according to news reports.
During its most recent quarter ended July 27, the firm reported a 21.4% drop in catalog sales over the previous quarter. It cut its net loss to $6 million during the quarter, down from $69 million one year ago. The company’s revenue remained flat at about $7.2 billion.
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