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JCPenny (JCP) 4Q15 Results: Begins to Gain Back Some of Its Lost Market Share

Executive Summary

  • JCPenney reported 4Q15 adjusted EPS of $0.39 versus the consensus estimate of $0.22. Adjusted EBITDA was $381.0 million versus consensus of $324.3 million.
  • Total revenue was $4.0 billion versus expectations of $3.99 billion. Comps were up 4.1% versus consensus of 3.9%. Home, Sephora, footwear and handbags were the top-performing categories.
  • Full year guidance calls for EPS to be positive versus consensus of $(0.28). Comps are expected to be up 3%–4%. Free cash flow is expected to improve year over year.

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