According to a J.C. Penney Co. filing with the United States Securities and Exchange Commission, an executive emailed something that should not have been emailed. As a result, the company has revealed that it expects comparable store sales for the first quarter to fall in the range of 3.5% to 4.5%.
The filing stated:
“On April 13, 2015, J.C. Penney Company, Inc. became aware that a senior official of the company inadvertently sent an e-mail communication to a securities analyst that contained non-public information regarding the company’s comparable store sales results for the fiscal first quarter of 2015 to date, which are approximately 6%. Based on results to date, and taking into account the shift of Easter into the fiscal month of March this year, the company currently expects comparable store sales for the first quarter to be in the range of 3.5% to 4.5%.”