Company Earnings UpdateJCPenney (JCP) 2Q18 Results: Earnings Miss, Net Sales Negatively Impacted by Store Closures; Company Lowers Guidance Coresight Research August 17, 2018 Executive Summary JCPenney reported 2Q18 net sales of $2.76 billion, down 7.5% year over year and below the $2.81 billion consensus estimate. Adjusted EPS was $(0.32), down from $(0.15) from the year-ago quarter and below the $(0.05) consensus estimate. Comparable sales were up 0.3% for the period. Children’s, jewelry, Sephora, women’s apparel and salon were the company’s top performing divisions and categories during the quarter. The company lowered its full-year guidance and now expects adjusted EPS of $(1.00)–$(0.80), from previous guidance of $(0.07)–$0.13 and the $0.04 consensus estimate. Comps are now expected to be flat, versus previous guidance for growth of 0.0%–2.0% Please Login to read the full report. Not a member? To access this content for free, register for a free account. This document was generated for Other research you may be interested in: Innovator Profile: Kalder—Monetizing Customer Loyalty with White-Label Cashback and RewardsSentiment Dives, Tariff Pessimism Deepens, Reactive Shopping Entrenches: US Consumer Survey InsightsThree Data Points We’re Watching This Week, Week 23: US Retail Sectors in FocusConsumer Sentiment Steadies; Plus, Off-Price and Dollar-Store Shopping in Focus: US Consumer Survey Insights
