JC Penney yanks earnings outlook because of coronavirus


Shoppers sit outside of a J.C. Penney store at the Westfield Mall in Culver City, California.

Martina Albertazzi | Bloomberg | Getty Images

J.C. Penney has withdrawn its earnings outlook due to the uncertainty surrounding COVID-19.

The department store chain announced Friday morning that it is not providing an updated outlook at this time.

Earlier in the week, on Wednesday, Penney said it would close all of its stores across the country until April 2, at least, to try to help halt the spread of the new coronavirus. It did not clarify whether or not it would be paying workers during this time. A spokesperson declined to comment.

Penney is also postponing its analyst day, which had been set…

Source cnbc.com

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