By  on April 25, 2012

J.C. Penney Co. Inc.’s reinvention is pinching the vendor community.

Both The Jones Group Inc. and Iconix Brand Group Inc. on Wednesday posted first-quarter results that reflected lower sales due in part to Penney’s makeover. The shortfall led to a dive in both companies’ share price, even as Penney’s shares rose. Shares of Iconix dropped 14.6 percent to close at $14.53 Wednesday in over-the-counter-trading. Shares of Jones fell 8.1 percent to close at $11.25 in trading Wednesday on the New York Stock Exchange.

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