JC Penney Tanks Following Q3 Report
- Shares of J C Penney Company Inc (NYSE: JCP) fell 9 percent early Friday.
- The department store chain said it lost $0.21 per share, which matched analysts expectations.
- Revenue of $2.86 billion missed by $0.10 billion.
- Comparable sales fell 0.8 percent during the quarter.
- Net loss for the quarter improved by 42 percent to $(67) million.
- Sephora, Home, Salon and Fine Jewelry were highlighted as top performing divisions.
- Company expects full year comparable store sales to now increase 1 to 2 percent.
- Company also guided full year earnings per share to be positive.
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