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: High-Income Consumers’ Financial Sentiment Reaches New Peak; Facebook Slumps in Social Commerce: US Consumer Survey InsightsEssential Guide to Shoptalk Fall 2025: Turning Current Challenges into Long-Term Strengths with Retail AlchemyConsumer Sentiment Declines; Plus, Apparel and Footwear Shopping in Focus: US Consumer Survey InsightsCEO Brief: A Turning Point for US Consumers and the Economy?
