J.C. Penney beats 4Q profit forecasts

J.C. Penney Co. on Friday reported fiscal fourth-quarter net income of $192 million, after reporting a loss in the same period a year earlier.

The Plano, Texas-based company said it had profit of 61 cents per share. Earnings, adjusted for one-time gains and costs, came to 64 cents per share.

The results exceeded Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 61 cents per share.

The department store operator posted revenue of $3.96 billion in the period. Eight analysts surveyed by Zacks expected $3.97 billion.

Penney expects full-year earnings in the range of 40 cents to 65 cents per share.

Penney shares have declined 17 percent since the beginning of the year. The stock has decreased 9 percent in the last 12 months.

——



Add Comment

all comments

  Other news

more
Ed Sheeran sends fans WILD as he announces a UK and Europe stadium tour with bizarre Instagram snap following headlining set at Glastonbury Festival

Ed Sheeran sends fans WILD as he announces a UK and Europe stadium tour with bizarre Instagram..

27-Jun, 13:19

Taking to Instagram to announce the exciting music news, Galway Girl...

EPA to repeal Obama-era clean water regulation Trump called ‘one of the worst’

EPA to repeal Obama-era clean water regulation Trump called ‘one of the worst’..

27-Jun, 22:43

President Donald Trump’s administration has announced plans to scrap...

’Petya’ ransomware attack goes global, targets Merck in US

’Petya’ ransomware attack goes global, targets Merck in US..

27-Jun, 13:37

The US-based division of the global pharmaceutical giant Merck has been...

Corbyn to demand Queen’s Speech amendments on pay cap, emergency service cuts

Corbyn to demand Queen’s Speech amendments on pay cap, emergency service cuts..

28-Jun, 07:48

Labour leader Jeremy Corbyn is set to table an amendment to the...

Floods in Zimbabwe kill 246 since December

Floods in Zimbabwe kill 246 since December..

03-Mar, 01:42

Zimbabwe says floods have killed 246 people and left nearly 2,000...

Every Question Episode 3881

Every Question Episode 3881..

17-Mar, 00:54

The following Every Question Episode 3881 English Sub has been released....

11 dead as Nigerian troops repel Boko Haram suicide bombers

11 dead as Nigerian troops repel Boko Haram suicide bombers..

17-Feb, 04:16

Witnesses and soldiers say 11 people have been killed as Nigerian troops...

Colombians seek probe of Chiquita execs for terror funding

Colombians seek probe of Chiquita execs for terror funding..

18-May, 20:39

Human rights groups in Colombia are calling on the International Criminal...