J.C. Penney ( JCP) on Thursday posted a first-quarter loss of $348 million, or $1.58 a share. The adjusted loss for the quarter totaled $289 million, or $1.31 a share, which includes charges related to the retailer's restructuring and management transition. The retailer disclosed last week that total sales for the quarter fell 16.4% from last year to $2.64 billion. J.C. Penney also said comparable-store sales declined by about 16.6% during the quarter. JCPenney Reports Loss, Tumbles After-Market
Nordstrom ( JWN) said Thursday that net income in the first quarter declined 3%, hurt by weak demand for spring merchandise and softer performance in the Northeast and Midwest. The retailer also lowered its revenue guidance for the year.
Autodesk's ( ADSK) adjusted first-quarter earnings were below Wall Street expectations, revenue declined 3%, and the software company on Thursday issued a weak second-quarter forecast. Adjusted earnings were 42 cents a share. Revenue fell to $570.4 million from $588.6 million a year earlier, Analysts were calling for earnings of 45 cents a share on revenue of $583.6 million.
Aruba Networks ( ARUN), the wireless communications company, posted a loss in its fiscal third quarter as customers delayed orders because of the weak global economy.
Stage Stores ( SSI) is expected by Wall Street on Friday to post first-quarter earnings of 9 cents a share.
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