Insight Report 2 minutes PremiumJCPenney (JCP) 3Q16 Results: Unseasonable Weather Weighs on Apparel Sales Coresight Research November 14, 2016 Executive Summary JCPenney reported 3Q16 adjusted EPS of $(0.21), in line with the consensus estimate. Total revenues were $2.86 billion, below expectations of $2.95 billion. Comparable-store sales were down 0.8% versus expectations of a 2.2% increase. Comps were positive in October, driven by a comp benefit of more than 20 basis points from the company’s 500 new appliance showrooms. That said, apparel sales were soft. All apparel categories, including men’s, kids’ and women’s, performed below the total company comp, with men’s apparel posting the best performance. In women’s apparel, sales were soft in the contemporary, juniors and misses categories, but were strong in moderate dresses and junior bottoms. Management lowered its guidance for the full year. Comps are now expected to increase by 1%–2%, down from 3%–4% previously, versus consensus of 2.2%. EPS is still expected to be positive, consistent with prior guidance. Already a subscriber? Log in You are currently viewing a preview of this report. Please select an access option to view the full report. Hide Options - Show Options + Get unlimited access to all our research with one of our subscription plans. View Subscription Plans or Contact us to purchase this report. Contact us ✕ This document was generated for Other research you may be interested in: Economic and Financial Sentiment Hit Six-Month High: China Consumer Survey InsightsConsumers Remain Reluctant to Visit Public Places: China Consumer Survey InsightsThree Data Points We’re Watching This WeekSportswear Brands in 1Q23: High Costs and Promotions Erode Margins, but Key Brands Remain Positive for Full-Year 2023