J. C. Penney Company, Inc. announced financial results for its fiscal third quarter ended Oct. 28, 2017. Total net sales decreased (1.8) % to $2.81 billion in the third quarter compared to $2.86 billion in the same period last year, primarily the result of the 139 stores closed this year through the end of the third quarter. Comparable sales increased 1.7 % for the third quarter, resulting in a positive two-year stack of 0.9 %. For the third quarter, the Company's net loss was ($128) million, or ($0.41) per share, compared to a net loss of ($67) million, or ($0.22) per share in the same period last year. This reduction was driven in large part by increased cost of goods sold, restructuring charges associated with the store closures and a charge related to settlement accounting on the Company's pension plan. Click Read More below for additional information.
he United States Postal Service reported new delivery performance metrics through the eighth week of the fiscal fourth quarter. During the reporting period, the average time for the Postal Service to deliver a mailpiece or package across the postal network was 2.4 days.
FY2022 fourth quarter service performance scores covering July 1 through Aug. 26 included:
*First-Class Mail: 93.1 percent of First-Class Mail delivered on time against the USPS service standard, consistent with performance from the fiscal third quarter.
*Marketing Mail: 94.5 percent of Marketing Mail delivered on time against the USPS service standard, consistent with performance from the fiscal third quarter.
*Periodicals: 86.7 percent of Periodicals delivered on time against the USPS service standard, consistent with performance from the fiscal third quarter.