Market Overview

JC Penney Reports Mixed Q2 Earnings

JC Penney Reports Mixed Q2 Earnings

JC Penney Co (NYSE: JCP) reported second-quarter losses of 18 cents per share, which beat the analyst consensus estimate by 13 cents. This is a 52.63% increase over losses of 38 cents per share from the same period last year.

The company reported quarterly sales of $2.619 billion, which missed the analyst consensus estimate of $2.71 billion. This is a 5.18% decrease over sales of $2.762 billion the same period last year.

"While we still have work to do on our topline, I strongly believe that growing sales in an unprofitable way is simply not an option,” said CEO Jill Soltau. “The only way I know how to reconstruct a business, is through a holistic approach across all the key tenets of strategic, purposeful and effective retailing. Notably this quarter, the meaningful improvement we delivered in cost of goods sold was driven by lower permanent markdowns, improved shrink results, increased store and online selling margins and the exit of major appliance and in-store furniture categories.”

JC Penney shares were trading up 14% at 65 cents in Thursday’s pre-market session. The stock has a 52-week high of $2.65 and a 52-week low of 53 cents.

Related Links:

Walmart Reports Q2 Earnings Beat

Cramer Blasts Macy's, But Doesn't Think It's In Trouble

Photo credit: Miosotis Jade via Wikimedia Commons

Posted-In: Earnings News Best of Benzinga


Related Articles (JCP)

View Comments and Join the Discussion!
Fastest Market News Application
You'll Hear It First On Pro
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at

Why Is It Important To Have A High Credit Score?

28 Stocks Moving in Thursday's Pre-Market Session