Penney: Fiscal 3Q Earnings Snapshot

November 15, 2018 - 6:36 am

PLANO, Texas (AP) _ J.C. Penney Co. (JCP) on Thursday reported a loss of $151 million in its fiscal third quarter.

On a per-share basis, the Plano, Texas-based company said it had a loss of 48 cents. Losses, adjusted for one-time gains and costs, were 52 cents per share.

The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 57 cents per share.

The department store operator posted revenue of $2.73 billion in the period, which did not meet Street forecasts. Five analysts surveyed by Zacks expected $2.81 billion.

The company's shares closed at $1.22. A year ago, they were trading at $2.98.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on JCP at https://www.zacks.com/ap/JCP

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