SWOT ANALYSIS OF JC PENNEY

7/14/2020 Business Insights: Global

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JC Penney Reports Mixed Q3 Earnings.

Benzinga.com

Byline: Tanzeel Akhtar

JC Penney Co (NYSE:JCP) reported third-quarter losses of 30 cents per share on Friday, which beat the analyst consensus estimate by 45.45%. This is a 42.31% increase over losses of 52 cents per share from the same period last year.

The company reported quarterly sales of $2.5 billion, which missed the analyst consensus estimate of $2.51 billion by 0.40%. This is a 5.77% decrease over sales of $2.653 billion the same period last year.

"The past quarter was an exciting and energizing time at JC Penney as we made significant progress on our efforts to return JC Penney to sustainable, profitable growth," said Jill Soltau, CEO of JC Penney i. "We are beginning to see results -- both in our numbers and how we operate as a business -- from the early implementation of our Plan for Renewal, which is focused on driving traffic, offering compelling merchandise, providing an engaging experience, fueling growth, and building a results-minded culture."

JC Penney shares were trading up 13.64% at $1.25 in Friday's pre-market session. The stock has a 52-week high of $1.92 and a 52-week low of 53 cents.

Photo credit: Miosotis Jade, via Wikimedia Commons

(c) 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Tanzeel Akhtar

Full Text: COPYRIGHT 2019 Accretive Capital LLC dba Benzinga.com. http://www.benzinga.com/

Source Citation:

"JC Penney Reports Mixed Q3 Earnings." Benzinga.com 15 Nov. 2019: NA. Business Insights: Global. Web. 14 July 2020.

URL http://bi.gale.com.proxy.lib.pdx.edu/global/article/GALE%7CA605859223/7f237a9be3d7a96f8472a032c2a96b4f? u=s1185784

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GALE|A605859223

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