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: Analyst Corner—Drugstore Closures Leave US Consumers High and Dry in Pharmacy Deserts: Navigating the Fallout with Aditya KaushikRetail Around the World: Coresight Research Observations, January 2023Weinswig’s Weekly: Three Trends About the US Return to Office You Don’t Already KnowAmazon Prime Day India 2024: Preview—Setting Up for Success with Fast Fulfillment and Affordable Access