JC Pen­ney re­ports 2Q loss

Cape Breton Post - - Business -

PLANO, Texas - J.C. Pen­ney is re­port­ing a loss of $62 mil­lion in its fis­cal sec­ond quar­ter. The Plano, Texas, com­pany had a loss of 20 cents per share.

Losses, ad­justed for one-time gains and costs, came to 9 cents per share, which is 3 cents short of Wall Street ex­pec­ta­tions, ac­cord­ing to a sur­vey by Zacks In­vest­ment Re­search.

The de­part­ment store posted rev­enue of $2.96 bil­lion in the pe­riod, which beat Street fore­casts. Six an­a­lysts sur­veyed by Zacks ex­pected $2.87 bil­lion.

J.C. Pen­ney Co. ex­pects ful­lyear earn­ings in the range of 40 to 65 cents per share.

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