J.C. Penney Co. (JCP) on Thursday reported a loss of $101 million in its fiscal second quarter.
The Plano, Texas-based company said it had a loss of 32 cents per share. Losses, adjusted for non-recurring gains, were 38 cents per share.
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The results fell short of Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 8 cents per share.
The department store operator posted revenue of $2.83 billion in the period, which also did not meet Street forecasts. Six analysts surveyed by Zacks expected $2.89 billion.
Penney expects full-year results to range from a loss of $1 per share to a loss of 80 cents per share.
The company’s shares closed at $2.41. A year ago, they were trading at $3.68.
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This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on JCP at https://www.zacks.com/ap/JCP
