J.C. Penney Withdraws 2018 Guidance as 3Q Sales Tumble

The transcript discusses a company's disappointing sales performance, with comparable store sales down 5.4% against a modeled 1.5% decline. This is partly attributed to management changes, including a new CEO and CFO. The impact of these changes is expected to be assessable by fall 2019. A significant focus is on women's apparel, which is a major business segment that suffered under previous leadership but presents a substantial opportunity for recovery.

What was the percentage decline in comparable store sales compared to the expected model?

• 7.0%

• 1.5%

• 3.0%

• 5.4%

What major change is the company undergoing that might have affected its sales?

• Opening of new stores

• Reduction in workforce

• Introduction of a new product line

• Management change with a new CEO and CFO

When is it expected to evaluate the impact of the new CEO's strategies?

• Next spring

• Next winter

• Next summer

• Next fall

What is considered a significant part of the company's business that needs attention?

• Home appliances

• Women's apparel

• Children's toys

• Men's footwear

What challenge does the company face in the women's apparel segment?

• Brand damage

• High production costs

• Lack of supply

• Limited market reach