J.C. Penney’s loss balloons in Q3 as sales continue to slide

This story was originally published on Retail Dive. To receive daily news and insights, subscribe to our free daily Retail Dive newsletter. Dive Brief: J.C. Penney’s total Q3 net sales fell 3.8% year over year to $1.36 billion. With credit card income down nearly 30% due to last year's one-time favorable accounting adjustment, total revenues fell 5.4% to just over $1.4 billion, according to financial filings Monday. Gross margin contracted from 38.7% a year ago to 38%, with increases in beauty, home and ...