J. C. Penney Co. Inc. reported sales of $2.2 billion for the month ended Feb. 22, off 1.3% from $2.3 billion last year.
The Plano, TX firm posted catalog sales of $174 million for the month, off 11.2% from $196 million last year, beat its forecast of a 15% drop in sales in its struggling catalog business this month.
Department store sales were $906 million or the month, of 3.6% from $940 last year.
The firm’s management reaffirmed its previous first quarter earnings per share guidance of at least 30 cents.
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