J.C. Penney (JCP) Posts Q3 Loss of 47c/Share; Comps Rose 6.4%

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Go back to J.C. Penney (JCP) Posts Q3 Loss of 47c/Share; Comps Rose 6.4%

JCPENNEY REPORTS A 6.4 PERCENT INCREASE IN SAME STORE SALES AND A 70 BASIS POINT IMPROVEMENT IN GROSS MARGIN TO 37.3 PERCENT FOR THE THIRD QUARTER OF FISCAL 2015

November 13, 2015 7:32 AM EST

Continued expense discipline drove a 300 basis point improvement in SG&A; Adjusted EBITDA improved $83 million to $108 million for the quarter
                                                                                                                                

PLANO, Texas - (November 13, 2015) - J. C. Penney Company, Inc. (NYSE: JCP) today announced financial results for its third quarter ended October 31, 2015.  The Company reported net sales of $2.90 billion compared to $2.76 billion in the third quarter of 2014. Same store sales increased 6.4 % for the period.

Marvin Ellison, chief executive officer, said, "The continuation of our strong sales performance this quarter demonstrates ongoing progress towards achieving the Company's long-term financial... More