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JC Penney reports rising same-store sales

By The Associated Press
Posted 7:47AM on Friday 10th November 2017 ( 1 week ago )

PLANO, Texas (AP) — J.C. Penney is reporting its first bump in same-store sales in more than a year and losses were not as bad as expected, sending shares up 8 percent before the opening bell.

The Plano, Texas, company had a loss of $128 million for the third quarter, or 41 cents per share. Losses, adjusted for one-time gains and costs, came to 33 cents per share, which is a dime better than Wall Street had expected, according to a poll by Zacks Investment Research.

Revenue, at $2.81 billion, also topped expectations Friday.

J.C. Penney Co. expects full-year earnings of between 2 and 8 cents per share.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on JCP at https://www.zacks.com/ap/JCP

FILE - This Monday, Aug. 19, 2013, file photo shows a J.C. Penney store in Pembroke Pines, Fla. J.C. Penney Co. Inc. reports earnings Friday, Nov. 10, 2017. (AP Photo/J Pat Carter, File)
FILE - In this Friday, March 17, 2017, file photo, shoppers exit a J.C. Penney store in the Georgia Square Mall in Athens, Ga. J.C. Penney Co. Inc. reports earnings Friday, Nov. 10, 2017. (John Roark/Athens Banner-Herald via AP, File)

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