Penney’s Q3 Results Implications, Skippy Up For Sale: Consumer Business Recap

Shares of J.C. Penney & Co. (NYSE:JCP) moved down again Friday following the historic company’s horrific third quarter results which revealed a 37 percent fall in online sales. In this sector, a double-digit Internet growth rate is typically expected and subsequent to analyzing the figures, Brian Sozzi at NBG said that if results such as this continue for much longer, Penney’s will either have to go private or raise money in order to survive.

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Travelers on Spirit Airlines (NASDAQ:SAVE) get an unwelcome last-minute surprise as the carrier bumped up the top fee it charges for large carry-on bags for stow away from $45 to $100. For its part, Spirit says that the addition charge is to encourage customers to make use of its online system to reserve bags in advance.

A move by Unilever (NYSE:UL) to publicize a potential sale of its iconic Skippy peanut butter brand is beginning to lure interest, with possible bidders including both ConAgra Foods (NYSE:CAG) and B&G Foods (NYSE:BGS).

Don’t Miss: J.C. Penney Company Earnings: Margins Suffer for Five Quarters Straight.