27 February 2013/16 Raby’ ath-Thani 1434/09 Esfand 1391

Company officials reported 4th Quarter 2012 results for J.C. Penney, and it’s really bad!  It’s so bad one retail analysts, Brian Sozzi, asked “Where is the rest of J.C. Penney’s quarter?”

Not only were holiday sales down in the dumps, but so were sales for the whole year.

J.C. Penney’s 4th Q 2012 ended on 07 February 2013.  For the quarter with what was expected to be big sales because of the holidays, the retailer ended up with a net loss of $552 million USD!

For the whole year: “…jcpenney reported a net loss of $985 million or $4.49 per share.”-J.C. Penney Fiscal Results statement

The losses are blamed mainly on a simply reality; sales are crashing!  In store sales down 24.8% from 2011.  Don’t blame the internet, J.C. Penney’s internet sales dropped even more, by 33%!  Not even the company’s efforts to cut expenses (by $603 million) stopped the hemorrhaging.