J.C.Penney revenue decreases 7.7 percent for Q4

The company said on Thursday its Q4 net profit dropped. Revenues slipped by 7.7 percent from the same period last year.

The company's net profit for Q4 was 27 million dollars, down from 75 million dollars a year earlier. Revenues slipped to 3,384 million dollars. Compared to 2 percent a year ago, the profit margin of the company decreased to 1 percent.

J. C. Penney (NYSE: JCP) is an American department store chain which was founded in 1902 and is now based in Plano, Texas. The company operates 864 stores across the United States. JCPenney launched its online store way back in 1998 which made it one of the first department stores to do so.

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