By Sarah Coffey NEW YORK, Oct 8 (Reuters) - Top U.S. department store chains such as J.C. Penney Co (JCP.N: ) posted disappointing September sales results and cut earnings forecasts on Wednesday, as shoppers, wary of a widening global financial crisis, limited their spending. Consumers hit hard by high gasoline and food prices, a U.S. housing slump and tight credit markets have preferred discount retailers to department store chains for months, but the trend worsened as financial markets tumbled in September. Mid-tier department store Penney said on Wednesday that it expected weaker sales and lower third-quarter earnings, mirroring moves by Kohl's and upscale retailers Nordstrom (JWN.N: Shares in...
[read full story]
Your Web Site
