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Company Earnings Update

JCPenney (NYSE: JCP) 1Q19 Results: Revenues Down, Missing Consensus, Management Reducing and Enhancing Inventory Position

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Coresight Research

Key Points

  • JCPenney reported fiscal 1Q19 revenues of $2.44 billion, lower than the consensus estimate of $2.48 billion, and down 5.6% year over year. The company reported 1Q19 EPS of $(0.46), lower than the consensus estimate of $(0.39).
  • Comparable sales decreased 5.5% for the quarter compared to the consensus estimate of (4.2)%.
  • The company expects to be cash flow positive for fiscal year 2019.

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