Analysts on average had expected Penney's same-store sales to
increase 2.7 percent in the quarter, according to research firm
Consensus Metrix.
Penney's net loss narrowed to $67 million, or 22 cents per
share, in the third quarter ended Oct. 29, compared with a loss
of $115 million, or 38 cents per share, a year earlier.
Excluding items, the retailer lost 21 cents per share.
Net sales fell 1.4 percent to $2.86 billion.
The company's shares were down 9.3 percent at $7.99 in premarket
trading.
(Reporting by Siddharth Cavale in Bengaluru; Editing by Ted
Kerr)
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