J.C. Penney June same-store sales down 8.2%

NEW YORK (MarketWatch) — J.C. Penney Company, Inc. said Thursday that its June sales at stores open at least one year fell 8.2%. Analysts, on average, had expected same-store sales to fall 9.3%, according to Thomson Reuters. Total sales for the five weeks ended July 4 fell 6.7% to $1.49 billion compared to the year-ago period. The company also said that it expects to report a second-quarter loss in the range of 8 cents to 12 cents a share, which includes the impact of its previously announced voluntary contribution of common stock to the company’s qualified pension plan. This compares to previous guidance for a loss in the range of 15 cents to 25 cents per share provided prior to the pension contribution.