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(Data and quotes from the International Council of Shopping Centers added.)
June sale were dismal, down 5.1% for the month according to the International Council of Shopping Centers. But June is now ancient history. What's more important coming out of Thursday's numbers is what will happen in the second quarter.
Surprisingly, there is some good news.
JC Penney(JCP Quote), for one, narrowed its loss forecast for the second quarter. After posting an 8.2% decline in June sales, beating analysts' estimates, the department store said it now expects a second-quarter loss in the range of 8 cents to 12 cents a share. Previously it had predicted a loss of between 15 cents and 25 cents a share. ...
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