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J.C. Penney Blames Weather, Supply Chain for Q1 Performance

Hampered by weather and supply chain issues, J.C. Penney came in below expectations for the first quarter ended May 5. In a Nutshell: J.C. Penney outlined three key challenges that negatively affected gross margin in the first quarter, including “mixed supply chain and process issues” which led to the need for clearance markdowns and negative…

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