jh-siesta.com December 11, 2017

JC Penney's same-store sales come in above its estimates

12 November 2017, 01:38 | Sammy Green

JC Penney Shares Are Popping on Surprisingly Strong Sales

JC Penney stock higher from a better results than expected

Excluding certain items, the company lost 33 cents per share, less than 40 to 45 cents lost it had previously estimated.

"You're going to see in our new holiday campaign a huge emphasis on value and price", J.C. Penney CEO Marvin Ellison said on a call to discuss earnings, noting that where the retailer did not have a centralized pricing strategy just over a year ago, it would now be aggressive on pricing online and in stores. Holding from a "positive" rating to a "neutral" rating in a research note on Monday, October 30th.

Ellison said on Friday that J.C. Penney will not need to liquidate inventory again in the fourth quarter. Holding from a "hold" rating to a "sell" rating in a research report on Wednesday, October 11th. At the moment, the average analyst rating for JCP is Hold. Analyst had projected a 43 cents loss. Holding presently has an average rating of Hold and a consensus target price of $5.06.

In other J.C. Penney Company, Inc. Holding (NYSE:JCP) traded up $0.42 during trading on Friday, hitting $3.17. Holding has a 1-year low of $2.35 and a 1-year high of $10.74. The company has a debt-to-equity ratio of 3.51, a current ratio of 1.45 and a quick ratio of 0.24. The stock exchanged hands 24.56 Million shares versus average trading capacity of 18.92 Million shares, yielding a market cap of $919.46 Million.

The early rally by J.C. Penney came after the department store operator reported a narrower than expected third quarter loss on better than expected revenues. J.C. Penney had a negative net margin of 2.56% and a negative return on equity of 4.66%. In the year-ago quarter, the company reported revenue of $2.86 billion. Holding's quarterly revenue was down 1.8% on a year-over-year basis. analysts predict that J.C. Penney Company, Inc. During the same quarter in the previous year, the business earned ($0.21) EPS.

TRADEMARK VIOLATION WARNING: This piece was posted by Week Herald and is the sole property of of Week Herald. If you are reading this piece on another domain, it was illegally stolen and reposted in violation of United States and global copyright legislation.

In other news, Director Paul J. Brown acquired 25,000 shares of the business's stock in a transaction on Monday, August 21st. LS Investment Advisors LLC now owns 19,098 shares of the department store operator's stock valued at $170,000 after buying an additional 7,731 shares in the last quarter.

Twenty-First Century Fox Inc. The disclosure for this purchase can be found here. GA ADV now owns 37,200 shares of the department store operator's stock valued at $330,000 after buying an additional 1,000 shares in the last quarter. Tudor Investment Corp ET AL increased its stake in J.C. Penney Company, Inc. Holding in the second quarter worth approximately $311,000.

Shares of J.C. Penney Co. Insiders acquired 310,135 shares of company stock valued at $1,111,391 in the last ninety days. Holding by 10.6% in the second quarter.

Other News

Trending Now

SC refers individual cases against demonetisation to constitution bench
Sensing where the bench was driving at, Subramanium said that the Delhi government too was raising its resources. AAP government's counsel pointed out that an elected government can not be without any power.

Phoenix Suns Agree To Trade Eric Bledsoe
Phoenix in return gets backup center Greg Monroe and a first-round pick. Bledsoe averaged 21.1 points, 6.3 rebounds and 4.8 assists last season.

Sessions Rejected Russian Proposal by Campaign Adviser, Source Says
Clovis could not stop an American citizen from traveling overseas "in his personal capacity", she said ... She described his responses to Papadopoulos as a courtesy by "a polite gentleman from Iowa".

Students in Custer honored veterans with 23rd annual program
This was the last Veteran's Day ceremony for the JROTC instructor Major Daniel Rancourt after 22 years at the school. Join the students of Arcola schools for one of the largest student-led Veteran's Day assemblies in the area.

UP: 9 dead, many injured in blast at thermal power plant
District Magistrate Sanjay Kumar Khatri said 40 ambulances were immediately pressed into service. NTPC is India's largest power utility and the plant in Uttar Pradesh is among its main units.

China to celebrate Singles' Day with whopping shopping spree
But environmentalists accuse Alibaba and other e-tailers of fuelling a culture of excessive consumption and mountains of waste. This year, the world awaits whether it will break records again and reverberate throughout the world's e-commerce landscape.

In Iran, Putin says dismantling nuclear deal 'not acceptable'
The talks were also geared at boosting trade between the three countries, which share access to the Caspian Sea. Moscow has criticized Trump's antagonistic stance and rejected his demand to renegotiate the accord.

Sprint bonds drop on T-Mobile merger doubts
The rumored T-Mobile Sprint merger, which is just about old enough to vote , has reportedly been called off. Son met with Trump the month before he took office to talk up an investment in USA businesses.

Abraham, Loftus-Cheek & Gomez make England squad
Twenty-year-old Joe Gomez completes the set of fresh faces selected by manager Gareth Southgate. England meet Germany on November 10 and Brazil four days later on November 14.

Kelvin Benjamin Trade: Grading the Bills' Move at NFL Trade Deadline
Interim Carolina Panthers general manager Marty Hurney traded former first-round pick Kelvin Benjamin at the deadline. For the Panthers, they will now rely on younger pass-catchers in Devin Funchess and Curtis Samuel to get the job done.