UPDATE: J.C. Penney (JCP) CFO Sees Exceeding $1.2B EBITDA by 2018

August 17, 2016 12:45 PM EDT

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(Updated - August 17, 2016 12:54 PM EDT)

J.C. Penney (NYSE: JCP) CFO Ed Record says company expects to exceed $1.2 billion EBITDA in FY18, according to Bloomberg.

Record said JCPenney will open 60 Sephora stores this year.

The executive also sees credit card income of as much as $100 million by 2019 and sees capital expenditures of about $450 million over the next three years.

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