JCPenney (JCP) 4Q17 Results: Mixed Quarter, Company Guides in Line with Consensus

Executive Summary

• JCPenney reported 4Q17 revenues of $4.03 billion, up 1.8% year over year but below the $4.05 billion consensus estimate. Adjusted EPS was $0.57, beating the $0.47 consensus estimate and down from $0.64 in the year-ago quarter.
• Comparable sales were up 2.6%, slightly below the consensus estimate of 2.7%. Comparable sales for the full year were up 0.1%.
• The company expects FY18 same-store sales growth of 0.0%–2.0%, compared with the consensus estimate of 0.7%. The company expects adjusted EPS of $05–$0.25, compared with the consensus estimate of $0.20.