JCPenney got clobbered again in Q3 as it trudges along on the road to a potential turnaround under the guidance of CEO Ron Johnson.
Sales fell 27 per cent — worse than what analysts feared.
Fine. We know that JCPenney’s been getting killed throughout 2012, but lets put the collapse into perspective.
Penney’s sales over the first nine months of its fiscal year have fallen by $2.7 billion, nearly equivalent to the annual revenue of department store chain Saks Inc.