Penney reports 1Q loss

Markets Associated Press

J.C. Penney Co. (JCP) is reporting a loss of $180 million in its fiscal first quarter.

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On a per-share basis, the Plano, Texas, company said it had a loss of 58 cents. Earnings, adjusted for one-time gains and costs, were 6 cents per share.

The results exceeded Wall Street expectations. Analysts surveyed by Zacks Investment Research expected a per-share loss of 22 cents.

The department store operator posted revenue of $2.71 billion, missing Street forecasts. Seven analysts surveyed by Zacks expected $2.76 billion.

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

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Keywords: J.C. Penney, Earnings Report, Priority Earnings