JCPenney Reports $56 Million Loss In Q2
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PLANO (AP) - JCPenney Co. on Friday reported a loss of $56 million in its fiscal second quarter.
On a per-share basis, the Plano-based company said it had a loss of 18 cents. Losses, adjusted for one-time gains and costs, came to 5 cents per share.
The results surpassed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for a loss of 15 cents per share.
The department store operator posted revenue of $2.92 billion in the period, which did not meet Street forecasts. Seven analysts surveyed by Zacks expected $2.93 billion.
Penney shares have climbed 49 percent since the beginning of the year. The stock has climbed 19 percent in the last 12 months.
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