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Sears Holdings Corp. reported that it generated a profit of $189 million for the quarter ended April 28, after losing $170 million in the same period last year.
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Wal-Mart Stores Inc. reported a better-than-expected 9.2% increase in first-quarter profit on increased sales in the United States and a strong performance abroad.
J.C. Penney executives laid out further details of their strategy going forward during the chain’s quarterly conference call with investors.
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By Marianne Wilson, Editor, Chain Store Age
Does J.C. Penney have time on its side? Or to put it another way: How long will investors wait for J.C. Penney’s transformation? Because, based on the chain’s awful first quarter, it doesn’t appear to have even taken root yet. I’m not surprised.
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