Penney reports 3Q loss
PLANO, Texas (AP) — J.C. Penney Co. (JCP) on Friday reported a loss of $137 million in its fiscal third quarter.
The Plano, Texas-based company said it had a loss of 45 cents per share. Losses, adjusted for one-time gains and costs, came to 47 cents per share.
The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for a loss of 58 cents per share.
The department store operator posted revenue of $2.9 billion in the period, also exceeding Street forecasts. Eight analysts surveyed by Zacks expected $2.86 billion.
Penney shares have risen 36 percent since the beginning of the year. The stock has risen 13 percent in the last 12 months.
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 http://www.zacks.com/ap/JCP
Keywords: J.C. Penney, Earnings Report, Priority Earnings