JC Penney adds to the misery in retail; sales fade

May 13, 2016 12:53 PM

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NEW YORK — Shares of J.C. Penney tumbled 10 percent before the opening bell Friday after posting an unexpected sales drop, capping a miserable week for retailers.

Macy’s, Nordstrom and Kohl’s have all reported weak sales results that revealed how drastically business has fallen off since in mid-March.

Also read: Under Armour Footwear Chief Peter Ruppe to Depart

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