Share “J.C Penney posts 4th straight big loss,...”

J.C Penney posts 4th straight big loss, sales drop

Published on NewsOK Modified: February 27, 2013 at 7:12 pm •  Published: February 27, 2013

A POOR QUARTER: J.C. Penney widened its loss to $552 million, or $2.51 per share, up from a loss of $87 million, or 41 cents per share a year ago. Excluding charges related to restructuring and management changes, Penney's adjusted loss for the quarter was $427 million, or $1.95 per share. Total revenue dropped 28.4 percent to $3.88 billion. Analysts had expected a loss of 23 cents on revenue of $4.08 billion, according to research firm FactSet.

BEHIND THE QUARTER: Penney's pricing plan launched early last year to get rid of coupons and most sales have turned off shoppers.

WHAT'S NEXT: Penney is now adding back some of those sales every week and is counting on the company's launch of mini-shops to turn around its business.


  1. 1
    OHP: Vehicle crashes into crane near U.S. 81 and I-40
  2. 2
    Jaguars GM doubts Justin Blackmon will ever play again
  3. 3
    The glamorous life of a frequent traveler is a lie, researchers say
  4. 4
    VIDEO: Olivia Munn, Aaron Rodgers back in the gym prepping for X-Men movie
  5. 5
    Fired Sheriff's Office spokesman says he was wrongly terminated, is 'excited' to testify before...
+ show more


× Trending business Article