Company Earnings Update 2 minutesRegister for Free AccessJC Penney (JCP) Fiscal 3Q18 Results: Company Misses Expectations and Withdraws Full Year Guidance Coresight Research November 16, 2018 Executive Summary JCPenney reported 3Q18 revenues of $2.65 billion, down 5.8% year over year and below the consensus estimate of $2.76 billion. Adjusted EPS was $0.52, up 48.6% from the year ago quarter, below the consensus estimate of $0.56 but above last year’s EPS of $0.35. The company’s comparable sales were down 5.4% for the third quarter. Management noted that given the recently announced CEO and interim CFO, the company will withdraw its previous 2018 full-year earnings guidance and update full-year comparable store sales guidance. FY18 comps are expected to be down low-single digits and the company continues to expect to achieve positive free cash flow for the year. Please Login to read the full report. Not a member? Register for a free user account. This document was generated for Other research you may be interested in: Innovator Profile: The Metav.rs Web3 Platform Helps Brands To Better Create and Manage Metaverse ExperiencesUS Sportswear Retail: Multibrand Retailers Confront DTC ThreatsUS Dresswear Retailing: Sales To Dwindle in 2023 as Pent-Up Demand FadesUS Store Tracker Extra, April 2023: Bed Bath & Beyond Pushes Total Closed Space to 52 Million Square Feet