J. C. Penney (JCP) June Comps Down 8.2%; Sees Smaller Q2 Loss, Narrows Q2 SSS Outlook
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J. C. Penney Company, Inc. (NYSE: JCP) reports total sales for the month of June were $1.495 billion, down 6.7% from the same period last year. Same store sales fell 8.2%.
Affirms its July comparable store sales guidance of down 13-16%. Sees Q2 same store sales down 9.5-10.5%, compared to the original guidance of 9-12%.
Raises its Q2 EPS guidance from a loss of $0.15-$0.25 to a loss of $0.08-$0.12, which includes the impact of its previously announced voluntary contribution of common stock to the Company's qualified pension plan.
Affirms its July comparable store sales guidance of down 13-16%. Sees Q2 same store sales down 9.5-10.5%, compared to the original guidance of 9-12%.
Raises its Q2 EPS guidance from a loss of $0.15-$0.25 to a loss of $0.08-$0.12, which includes the impact of its previously announced voluntary contribution of common stock to the Company's qualified pension plan.
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