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Retail

What To Expect From JCPenney Earnings — a Sales Recovery

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By Chris Lange Published
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JC Penney Store

J.C. Penney Company Inc. (NYSE: JCP) has had a tough time over the past few years, posting weak revenues and little to no earnings. The retail department store is set to report quarterly results on Thursday. Can this report have the desired effect investors are looking for?

Analysts are expecting J.C. Penney to post a big loss of $0.93 per share and a 4% revenue growth to $2.79 billion, according to Thomson Reuters. In the same quarter last year, the company lost $2.20 per share and revenues were $2.66 billion.

Third quarter estimates are $0.82 loss per share and $2.88 billion in revenue. For the full year, analysts estimate Penney will post $2.77 loss per share on revenues of $12.4 billion.

In its first quarter earnings, the company reported a 6.2% increase in same-store sales, exceeding its guidance. The company forecast a gain in same-store sales for the coming earnings report as well. After that report, J.C. Penney’s stock price gapped up by $1.50, or nearly 18%, rising to $9.86 at the time.

J.C Penney has reported a loss for the past 10 consecutive quarters. It has also lost money on an after-tax basis for three years in a row, as well as significant drops in revenue. This year is expected to be the start of the recovery in revenues.

J.C. Penney shares were recently trading at $9.34 with a 52-week range $4.90 to $14.65. The consensus target price from analysts is $9.39.

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About the Author Chris Lange →

Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics.

Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications.

A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.

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