J. C. Penney (JCP) Comps Down 0.6% in September; Sees Weaker EPS, Comps in Q3
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J. C. Penney Company, Inc. (NYSE: JCP) reports total sales for the month of September were $1.426 billion, down 3.6 percent from the same period last year. Same-store sales fell 0.6 percent.
Due to weaker than anticipated sales performance during the first two months of the quarter, the Company now expects comparable store sales for the third quarter will be approximately flat to last year. Earnings before restructuring charges for the third quarter are expected to be in the range of $0.10 to $0.15 per share, or ($0.12) to ($0.07) per share after including restructuring charges that are now expected to total approximately $0.22 per share. Street sees earnings of $0.16.
Due to weaker than anticipated sales performance during the first two months of the quarter, the Company now expects comparable store sales for the third quarter will be approximately flat to last year. Earnings before restructuring charges for the third quarter are expected to be in the range of $0.10 to $0.15 per share, or ($0.12) to ($0.07) per share after including restructuring charges that are now expected to total approximately $0.22 per share. Street sees earnings of $0.16.
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