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NEW YORK AP 鈥?J.C. Penney slashed its annual profit forecast as it accelerated the clearance of slow-moving inventory, primarily in womens clothing, and warned of weaker sales.Shares tumbled more than 20 percent to an all-time low in early trading Friday, pulling Sears, Dillards, Kohls and other retailers down with it.The SP index that tracks department stores tumbled almost 4 percent.J.C. Penney, which had told investors to expect per-share profits between 40 and 65 cents, now says it expect
stanley ca s those profits to be between only 2 and 8 cents.Revenue at stores opened at least a year will be unchanged or down 1 percent for the year, the department store said Friday, just t
stanley cup wo months after saying that that revenue could be up as much as 1 percent.For the third quarter, which ends Saturday, the company expects a per-share loss of 40 to 45 cents. Thats much deeper than the 17 cent loss that analysts expected, according to FactSet.Slashing prices on poor-selling merchandise helped sales in September and October but that has squeezed profits. It was the right decision, the company said Fr
stanley ca iday, as it moves into the crucial holiday season.The Plano, Texas, department store will release third-quarter earnings on Nov. 10.J.C. Penney, like other retailers, has struggled to follow shoppers who have migrated online.Shares, already down 65 percent this year, dropped 80 cents to $2.85. Copyright c 2024 The Associated Press. All Rights Reserved. This material may not be published, broad Ovbc Life-saving drones used to rescue swimmers off French coast
Yomiuri Shimbun file photoPrime Minister Fumio Kishida, right, shakes hands with NATO Secretary General Jens Stoltenberg at the Prime Ministers Office in Tokyo in January.The Yomiuri Shimbun 14:19 JST,ensp;July 10, 2023Japan will formulate a new agreement to strengthen cooperation with the North Atlantic Treaty Organization with the aim of dealing with such risks as disinformation and the military use of space, according to government sources.The Individual Partnership and Cooperation Program, the current guidelines on the relationship with NATO, will be revised to become the Individually Tailored Partnership Program. The ITPP will state the cooperation content in greater detail and specify more than a dozen priority areas over the next four years, including in disinformation, cyberspace and advanced technology.Prime Minister Fumio Kishida will meet NATO Secretary General Jens Stoltenberg during the upcoming NATO summit scheduled to start Tuesday in Lithuania, where they are expected to agree on the new framework.The ITPP will strengthen measures again
stanley cup st disinformation, which is a security concern, in light of Russias invasion of Ukraine and its efforts to spread d
stanley termosy isinformation.In addition, keeping in mind Chinas accelerating military use of space, the ITPP is expected to in
stanley nz clude measures such as jointly addressing military threats in space.NATO has become increasingly wary of Chinas coercive policies, and through enhanced cooperation with Japan, the alliance aims to strengt
