J.C. Penney reports second-quarter loss but tops expectations

MarketsAssociated Press

J.C. Penney Co. (JCP) on Friday reported a loss of $138 million in its fiscal second quarter.

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On a per-share basis, the Plano, Texas-based company said it had a loss of 45 cents. Losses, adjusted for one-time gains and costs, were 41 cents per share.

The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for a loss of 50 cents per share.

The department store operator posted revenue of $2.88 billion in the period, also topping Street forecasts. Eight analysts surveyed by Zacks expected $2.86 billion.

Penney shares have increased 25 percent since the beginning of the year. The stock has dropped 14 percent in the last 12 months.


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 http://www.zacks.com/ap/JCP


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