Executive Summary
- JCPenney reported fiscal 2Q19 net sales of $2.51 billion, lower than the consensus estimate of $2.64 billion, and down 9.2% year over year. The company reported adjusted 2Q19 EPS of $(0.18), better than the year-ago period of $(0.38) and higher than the consensus estimate of $(0.31).
- Comparable sales decreased 9.0% for the quarter compared to the consensus estimate of down 5.1%.
- The company reaffirmed its guidance to be cash flow positive for fiscal year 2019. The company expects comparable sales to in a range of (7.0)%-(8.0)%.
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