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. This report is for paying subscribers only. Already a paying subscriber? Please log in to see the entire report.If you wish to learn more about our subscription plans and become a paying subscriber, click here. This document was generated for Other research you may be interested in: June 2023 Leading Indicators of US Retail Sales: Total Gains To Be in the Low Single Digits Due to Flat Disposable Income GrowthConsumers Return to Stores Without Slowing Online Shopping: China Consumer Survey InsightsUS Apparel and Footwear—Retail 2024 Sector Outlook: While Resilience Remains, E-Commerce Continues To Cede Share to Physical StoresChatGPT and Generative AI: Five Things Retailers Should Know