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J.C. Penney (JCP) Misses Q3 EPS by 1c; Cuts FY16 Comps Growth Outlook

November 11, 2016 7:33 AM

J.C. Penney (NYSE: JCP) reported Q3 EPS of ($0.22), $0.01 worse than the analyst estimate of ($0.21). Revenue for the quarter came in at $2.86 billion versus the consensus estimate of $2.96 billion.

Comps fell 0.8 percent, versus a gain of 2.7 percent expected by the Street.

For the third quarter, gross margin was 37.2 % of sales, a 10 basis point decline compared to the same period last year.

Guidance:

The Company has updated its 2016 full year guidance as follows:

For earnings history and earnings-related data on J.C. Penney (JCP) click here.

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