JC Penney Q1 Losses Triple Despite New Supply Chain Investment [Forbes]
Simon Property Group, Inc. (SPG)
Last simon property group, inc. earnings: 2/4 07:30 am
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Source: Forbes
Department store JC Penney that its net loss in the first quarter ended May 4 has more than tripled to $63 million from $17 million a year ago. Sales fell 8.1% to $1.37 billion from $1.49 billion a year prior. Comparable sales for the U.S. bellwether department store chain were down 6.3% in the quarter compared with a year ago, which went to 7.5% on a trailing 12-month basis. Consolidated adjusted EBITDA recorded a loss of $3 million from a positive $56 million a year prior, to which JC Penney reported that this represented: “The impact of the sales declines that were mostly offset by margin improvement and ongoing cost-saving efforts.” “During the first quarter fiscal 2024, JC Penney remained committed to serving America's hard-working families and advancing its transformation agenda. With continuing economic pressure weighing on the discretionary income of middle-income America, the company focused its efforts on creating a more rewarding shopping experience while continuing
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SPG
News
- Simon Property Group, Inc. (NYSE: SPG) was downgraded by analysts at Piper Sandler from a "strong-buy" rating to a "hold" rating.MarketBeat
- Introducing ShopSimon™: Brands You Love. On Sale. 24/7. [Yahoo! Finance]Yahoo! Finance
- Introducing ShopSimon™: Brands You Love. On Sale. 24/7.PR Newswire
- Simon® to Present at BofA Securities 2024 Global Real Estate ConferencePR Newswire
- Retail REITs: Steady consumer spending underpinned improved Q2 demand for shopping spaces [Seeking Alpha]Seeking Alpha
SPG
Earnings
- 8/5/24 - Miss
SPG
Sec Filings
- 8/30/24 - Form 4
- 8/30/24 - Form 4
- 8/30/24 - Form 4
- SPG's page on the SEC website