Penney reports 3Q loss

Staff Writer
Columbus CEO

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.

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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 http://www.zacks.com/ap/JCP

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Keywords: J.C. Penney, Earnings Report, Priority Earnings