Shares of J.C. Penney Co. Inc. fell to a 52-week low after investors realized that the early update on comparable-store sales perhaps wasn’t so positive after all.
Penney’s said Tuesday that it recorded a 2 percent comps gain for the fourth quarter, the first time since the second quarter of 2011 that the retailer has posted a positive quarterly sales result. It noted that for the nine weeks of November and December, the comps growth was a gain of 3.1 percent.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)