J. C. Penney (JCP) October Comps Down 13%
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J. C. Penney Company, Inc. (NYSE: JCP) October comparable store sales decreased 13%. Total Company sales in October decreased 11.8%.
Based on October sales results and continued strong expense control, management now expects earnings for the third quarter to be in a range of $0.53 to $0.55 per share, including a benefit of approximately $0.02 per share from the sale of non-operating real estate during the period. The Company's most recent guidance was for third quarter earnings to be in a range of $0.50 to $0.60 per share.
Based on October sales results and continued strong expense control, management now expects earnings for the third quarter to be in a range of $0.53 to $0.55 per share, including a benefit of approximately $0.02 per share from the sale of non-operating real estate during the period. The Company's most recent guidance was for third quarter earnings to be in a range of $0.50 to $0.60 per share.
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