This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
PLANO, Texas (AP) — J.C. Penney Co. on Friday reported fiscal fourth-quarter net income of $192 million, after reporting a loss in the same period a year earlier.
The Plano, Texas-based company said it had profit of 61 cents per share. Earnings, adjusted for one-time gains and costs, came to 64 cents per share.
The results exceeded Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 61 cents per share.
The department store operator posted revenue of $3.96 billion in the period. Eight analysts surveyed by Zacks expected $3.97 billion.
Penney expects full-year earnings in the range of 40 cents to 65 cents per share.
Penney shares have declined 17 percent since the beginning of the year. The stock has decreased 9 percent in the last 12 months.
Keywords: J.C. Penney, Earnings Report, Priority Earnings
Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.