Shares of J C Penney Company Inc JCP moved lower following disappointing guidance from the company's analysts day, combined with news of vendor shipments being withheld at Sears Holdings Corp.
The company now said same-store sales growth this quarter would be less than forecast, looking at low single-digit growth for same-store sales for the current quarter versus mid single-digit growth previously.
The company also looks for $14.5 billion in total sales by 2017, which also disappointed analysts.
J C Penney shares were briefly halted, and were last trading down 13 percent at $7.98.
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