J.C. Penney (JCP) Says Same-Store Sales up Last Two-Weeks of April
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May 16, 2016 8:54 AM EDT
UBS analyst, Michael Binetti reiterated his Sell rating on J. C. Penney (NYSE: JCP) as the company plans for 2H SSS to accelerate despite comps getting tougher. JCP's 1Q SSS slowed significantly, w/transactions & AUR both negative. 1Q was the 1st negative YOY gross profit... More
May 13, 2016 2:33 PM EDT
Cowen maintained a Market Perform rating on J. C. Penney (NYSE: JCP), and cut the price target to $9.00 (from $11.50), following the company's 1Q earnings report. JCP reiterated its original EBITDA guidance of $1B and adjusted EPS to be positive as well as... More
May 13, 2016 7:32 AM EDT
J.C. Penney (NYSE: JCP) reported Q1 EPS of ($0.32), $0.06 better than the analyst estimate of ($0.38). Revenue for the quarter came in at $2.81 billion versus the consensus estimate of $2.92 billion.
Comparable sales were (0.4) % for the first quarter.
Marvin R. Ellison, chief executive officer, said, "The first quarter was clearly challenging from a sales perspective. Although our business was not immune to the issues facing other retailers, I am pleased that we... More
