http://www.nytimes.com/2014/11/13/business/jc-penney-reports-flat-sales.html 2014-11-13 00:33:10 J.C. Penney Reports Flat Sales Consumer spending continues to hurt the retailer, whose net sales were below analysts’ expectations. === J.C. Penney The company reported net sales of $2.76 billion in the third quarter, which ended Nov. 1, compared with $2.78 billion for the same period last year. Analysts polled by Thomson Reuters had been expecting $2.81 billion in revenue. While Home and fine jewelry helped drive sales, the retailer said in its earnings announcement, although same-store sales were also flat compared with last year. “This quarter shows the progress we are making in the final phase of J.C. Penney’s turnaround,” Myron E. Ullman, the company’s chief executive, said in a statement announcing the earnings news. “Like most retailers, following a strong start to the back-to-school season, sales did slow in September and October as unseasonably warm weather hindered the sale of fall goods.” J.C. Penney has been trying to climb out of a steep slide after missteps in marketing and pricing led to steep losses. Last year, the company’s board ousted the former chief executive, Ron Johnson, after just 17 months on the job. Lackluster consumer spending has affected all retailers, but J.C. Penney has fared worse than most. Earlier Wednesday, Macy’s reported that its profits rose to $217 million, from $177 million a year ago, despite a slight decline in sales.