FILE - In this Friday, March 17, 2017, file photo, shoppers exit a J.C. Penney store in the Georgia Square Mall in Athens, Ga. J.C. Penney Co. Inc. reports earnings Friday, Nov. 10, 2017. (John Roark/Athens Banner-Herald via AP, File)
FILE - This Monday, Aug. 19, 2013, file photo shows a J.C. Penney store in Pembroke Pines, Fla. J.C. Penney Co. Inc. reports earnings Friday, Nov. 10, 2017. (AP Photo/J Pat Carter, File)
Friday, November 10, 2017 8:20 am
JC Penney reports rising same-store sales
PLANO, Texas -- J.C. Penney is reporting its first bump in same-store sales in more than a year and losses were not as bad as expected, sending shares up 8 percent before the opening bell.
The Plano, Texas, company had a loss of $128 million for the third quarter, or 41 cents per share. Losses, adjusted for one-time gains and costs, came to 33 cents per share, which is a dime better than Wall Street had expected, according to a poll by Zacks Investment Research.
Revenue, at $2.81 billion, also topped expectations Friday.
J.C. Penney Co. expects full-year earnings of between 2 cents and 8 cents per share.