[R]10:00AM New York – J. C. Penney Company, Inc sales fell 5.9% and net income fell 79%. Panasonic Corporation revenues fell 14.4% and net loss was ¥379 billion.[/R]

Abercrombie & Fitch Co, the apparel retailer reported first quarter sales fell 24% to $612.1 million from $800.2 million a year ago. Net loss in the quarter was $26.8 million or 31 cents per diluted share compared to net income of $62.1 million or 69 cents per share a year ago.

Abercrombie & Fitch Co (ANF: chart) in the last one year traded as high as $77.25 in May 2008 and as low as $13.66 in November 2008. Based on the yesterday’s closing price of $27.25 the company has market cap of $2.39 billion.

J. C. Penney Company, Inc, the department store chain reported first quarter sales fell 5.9% to $3.88 billion from $4.1 billion a year ago. Net income in the quarter fell 79% to $25 million or 11 cents per diluted share compared to net income of $120 million or 54 cents per share a year ago.

J. C. Penney Company, Inc (JCP: chart) in the last one year traded as high as $46.56 in May 2008 and as low as $13.71 in March 2009. Based on the yesterday’s closing price of $26.65 the company has market cap of $5.92 billion.

Panasonic Corporation, Japanese electronics maker reported full-year revenues fell 14.4% to ¥7.77 trillion from ¥9.07 trillion a year ago. Net loss in the quarter was ¥379 billion or ¥182.25 per ADS compared to net profit of ¥281.9 billion or ¥132.90 per ADS a year ago.

Panasonic Corporation (PC: chart) in the last one year traded as high as $23.97 in June 2008 and as low as $10.60 in February 2009. Based on the yesterday’s closing price of $14.62 the company has market cap of $30.27 billion.