- J.C. Penney stock surged this morning as the firm announced quarterly losses have been cut in half and they are joining Macy’s in partnering with thredUP to sell used clothing.
- Walmart beat Q2 expectations on both revenue and earnings with same-store sales up 2.8% and the retailer predicted U.S. sales will be on the high end of their previous guidance of 2.5%-3%. The company also reported that their NextDay delivery service covers about 75% of the U.S. population.
Source: JCPenney Halves Losses, Will Begin Selling Used Clothing | New York Times
Source: Walmart beats sales expectations, boosts guidance | Yahoo Finance