January 6, 2017 / 12:50 PM / 8 months ago

J.C. Penney holiday sales drop 0.8 pct, shares slide

Jan 6 (Reuters) - J.C. Penney Co Inc said same-store sales for November and December fell 0.8 percent, blaming a weak start to the holiday selling season.

The department store operator’s shares fell as much as 5.8 percent to $7.40 in premarket trading on Friday.

Rivals Macy’s Inc and Kohl’s Corp too posted declines in same-store sales during the crucial holiday selling period on Thursday, highlighting the struggles department store chains face amid competition from online retailers. (Reporting by Siddharth Cavale in Bengaluru; Editing by Saumyadeb Chakrabarty)

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