JCPenney (JCP) Shares Slump as Analyst Warns of Weak February Sales

Shares of JCPenney (NYSE: JCP) are underperforming most of the retail sector Wednesday afternoon as traders may be considering a concerning note from independent firm Cleveland Research. While the S&P 500 is down 0.04 percent and the SPDR S&P Retail ETF (NYSE: XRT) is down 0.9 percent, JCPenney shares are down nearly 4 percent to $39.73.

The firm warned JCPenney's February sales results may be softer than expected, down in the low-double digit to mid-teen range. Cleveland Research is also concerned with accelerating market share loss from the retailer.

Retailers are expected to report same-store sales results for the month of February on Thursday, March 1st. Investors will not have to wait long to see how accurate Cleveland Research's prediction was.

Investors might also be eying the announcement by Home Depot (NYSE: HD) and Martha Stewart Omnimedia (NYSE: MSO) to extend their relationship through March 2016.

Elsewhere in the retail sector, shares of Liz Claiborne (NYSE: LIZ) are down more than 6 percent following inline Q4 results.

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