J.C. Penney Co., Inc. (JCP) Reports Q4 Loss of $1.95, Comps Fall 32%
J.C. Penney Co., Inc. (NYSE: JCP) reported Q4 EPS of ($1.95), $1.77 worse than the analyst estimate of ($0.18). Estimates may not compare. Revenue for the quarter came in at $3.88 billion versus the consensus estimate of $4.08 billion.
Comparable store sales, which exclude the 53rd week, declined 31.7 percent. Internet sales through jcp.com were $315 million in the fourth quarter, decreasing 34.4 percent from last year.
Ron Johnson, chief executive officer of jcpenney said, "Sales and customer traffic were below our expectations in 2012, but as we execute our ambitious transformation plan, we are pleased with the great strides we made to improve jcpenney`s cost structure, technology platforms and the overall customer experience. We have accomplished so much in the last twelve months. We believe the bold actions taken in 2012 will materially improve the Company`s long-term growth and profitability."
For earnings history and earnings-related data on J.C. Penney Co., Inc. (JCP) click here.