Here’s how Penney did during its fiscal fourth quarter ended Feb. 1 compared with what analysts were expecting, based on data pulled by Refinitiv:
Earnings per share: 13 cents, adjusted, vs. a loss of 6 cents expected
Revenue: $3.49 billion vs. $3.44 billion expected
Same-store sales: down 7% vs. a drop of 7.3% expected
During the fourth quarter, net income shrunk to $27 million, or 8 cents per share, from $75 million, or 24 cents a share, a year earlier.
Excluding one-time items, Penney earned 13 cents a share, better than the loss of 6 cents per share that analysts were expecting.
Total revenue fell 7.7% to $3.49 billion from $3.79 billion a year ago. Analysts were looking for revenue of $3.44 billion.
Penney is now calling for same-store sales in fiscal 2020 to be down 3.5% to 4.5%, excluding any impact from the coronavirus outbreak.
Total same-store sales in fiscal 2019 dropped 7.7%.
https://www.cnbc.com/2020/02/27/jc-penney-jcp-reports-fourth-quarter-2019-earnings.html