By  on May 17, 2018

J.C. Penney cut its net losses for the first quarter ended May 5 down to $78 million from $187 million in the year-ago period.

But adjusted losses widened to $69 million from an adjusted loss of $2 million a year ago. Adjusted losses account for the sale of operating assets of $17 million this year and $117 million a year ago.

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