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J C Penney Company Inc (JCP)

JCP on New York Consolidated

4.64USD
22 May 2017
Change (% chg)

$0.00 (+0.00%)
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Latest Key Developments (Source: Significant Developments)

J C Penney reports Q1 loss per share $0.58
Friday, 12 May 2017 07:30am EDT 

May 12 (Reuters) - J C Penney Company Inc : :J C Penney reports first quarter 2017 financial results and reaffirms full year guidance.Q1 loss per share $0.58.Q1 sales $2.7 billion versus I/B/E/S view $2.77 billion.Q1 earnings per share view $-0.21 -- Thomson Reuters I/B/E/S.J C Penney Company Inc - company reaffirmed its 2017 full year guidance..J c Penney Company Inc qtrly total net sales $2,706 million versus $2,811 million.J C Penney Company Inc - comparable store sales were down 3.5pct for quarter.FY earnings per share view $0.46, revenue view $12.33 billion -- Thomson Reuters I/B/E/S.J C Penney Company Inc - "February was a very challenging month for J C Penney and broader retail".J C Penney Company Inc - inventory at end of Q1 2017 was $2.95 billion, an increase of 0.8pct compared to end of Q1 last year.J C Penney Company Inc - for Q1, gross margin was 36.3 pctof sales, an increase of 10 basis points compared to Q1 last year.Qtrly adjusted earnings per share $0.06.J C Penney Company Inc - Q1 gross margin was positively impacted by "improved" selling margins throughout quarter.J C Penney - incurred $220 million, or about $0.71/share restructuring charges in quarter associated with store closing, voluntary early retirement program.  Full Article

J.C. Penney Co announces settlement of class action lawsuit
Friday, 5 May 2017 04:15pm EDT 

May 5 (Reuters) - J C Penney Company Inc :J. C. Penney Company, Inc. announces settlement of class action lawsuit.J C Penney Company Inc - Settlement to be funded by insurance with no financial impact to company.J C Penney Company Inc - Settlement remains subject to final documentation and approval of district court following notice to class members.J C Penney Company Inc - Settlement is worth $97.5 million.J C Penney - Denies allegations in lawsuit, but entering into settlement to eliminate uncertainties, burden, expense of further protracted litigation.J C Penney Company - To settle lawsuit, Alan B. Marcus, individually, on behalf of all others similarly situated, V. J.C. Penney Company, Inc., et.al.  Full Article

JC Penney postponing store closures and liquidation sales- CNBC
Thursday, 13 Apr 2017 03:58pm EDT 

: JC PenneY postponing store closures and liquidation sales- CNBC ((Bangalore.newsroom@thomsonreuters.com;)).  Full Article

J C Penney CEO Marvin Ellison's 2016 compensation $9.4 mln vs $12.1 mln in 2015
Friday, 24 Mar 2017 04:57pm EDT 

J C Penney Company Inc : J c penney company inc- ceo marvin r. Ellison's 2016 total compensation was $9.4 million versus $12.1 million in 2015 - sec filing . J c penney company inc- cfo edward j. Record's 2016 total compensation was $2.5 million versus $3.7 million in 2015 - sec filing .Retired executive chairman, myron ullman's fy 2016 total compensation was $3.1 million versus $12.8 million in fy 2015.  Full Article

Debora plunkett joins J C Penney board of directors
Thursday, 2 Mar 2017 04:30pm EST 

J C Penney Company Inc : Debora Plunkett joins J C Penney board of directors .Says Colleen Barrett, president emeritus of Southwest Airlines Co., will retire from board at end of her term.  Full Article

J C Penney says to close 130-140 stores over next few months
Friday, 24 Feb 2017 07:24am EST 

J C Penney Company Inc : J C Penney announces plan to optimize retail operations, advance growth and drive profitability . J C Penney Company Inc says under plan, company expects to close two distribution facilities and approximately 130 - 140 stores over next few months . J C Penney Company Inc - decided to initiate a voluntary early retirement program for approximately 6,000 eligible associates . J C Penney Company Inc - as a result of store actions, J C Penney will close a distribution center located in Lakeland, Fla. In early June . J C Penney - total store closures represent approximately 13 - 14 % of company's current store portfolio, less than 5% of total annual sales . J C Penney Company - also is in process of selling its supply chain facility in Buena Park, Calif. In an effort to monetize a lucrative real estate asset . J C Penney Company Inc says associates who will be impacted by store and distribution center closures will receive separation benefits . J C Penney Company Inc - total store closures represent approximately less than 2% of EBITDA and 0% of net income . J C Penney Company Inc - annual cost savings resulting from these strategic decisions are estimated at approximately $200 mln . J C Penney Company Inc - during first half of 2017, company expects to record an estimated pre-tax charge of approximately $225 mln.  Full Article

J C Penney reports Q4 adjusted earnings of $0.64/shr
Friday, 24 Feb 2017 07:00am EST 

J C Penney Company Inc : J C Penney reports positive net income for fiscal 2016; a $514 million increase compared to the prior year . Q4 adjusted earnings per share $0.64 . Qtrly earnings per share $0.61 . Q4 earnings per share view $0.61 -- Thomson Reuters I/B/E/S . Q4 sales $4.0 billion versus I/B/E/S view $3.98 billion . Q4 total net sales $3,961 million versus $3,996 million last year . J C Penney Company Inc - comparable store sales were down 0.7 percent for Q4 . J C Penney Company Inc - Comparable store sales for FY expected to be down 1 percent to up 1 percent . J C Penney Company Inc - 2017 adjusted earnings per share expected to be $0.40 to $0.65 . J C Penney Company Inc - for Q4, gross margin was 33.1 percent of sales, a 100 basis point decline compared to same period last year . FY earnings per share view $0.56 -- Thomson Reuters I/B/E/S . J C Penney Company Inc - Inventory at year-end was $2.85 billion, an increase of 4.9 percent compared to last year-end . J C Penney Company Inc - 2017 full year gross margin expected to be up 20 to 40 basis points versus 2016 .J C Penney Company Inc - Company's 2017 full year guidance includes expected impact of store closures.  Full Article

J C Penney Co spokeswoman- no intention of discontinuing relationship with Welspun
Monday, 3 Oct 2016 11:00am EDT 

J C Penney Co Inc : Says no intention of discontinuing relationship with welspun, offering refund on certain Royal Velvet items made by Welspun . Spokeswoman - Welspun unable to provide assurances needed to confirm that 100 percent of cotton fibers used were Egyptian grown Further company coverage: [JCP.N] ((bangalore.newsroom@thomsonreuters.com;)).  Full Article

JC Penney - CEO Marvin Ellison purchases of 50,000 shares in open market
Thursday, 25 Aug 2016 02:07pm EDT 

J C Penney Co : CEO Marvin Ellison reports open market purchase of 50,000 shares of co's common stock on August 25 - sec filing .CEO Marvin Ellison purchased shares in multiple transactions at prices ranging from $9.90 to $9.94.  Full Article

J C Penney Co forecasts 2019 EPS $1.40-$1.55- analyst day
Wednesday, 17 Aug 2016 01:54pm EDT 

J C Penney Company Inc : JCP leverages advantage of existing infrastructure for buy online, ship to store; 1/3 jcp.com orders picked up this way - analyst day . Expect 40% of sales from JCP credit card, expect to drive it to 45-50% by 2019 . Forecasts 2019 EPS $1.40-$1.55, gross margin to grow 75-100 basis points . Value, beauty, special sizes & home are foundation of growth plan to achieve $1.2-$1.7 billion in sales growth over nxt 3 yrs - analyst day . Executive- "at some point we'd like to be a dividend company, buy back shares ...think we are a couple of yrs away from that " Further company coverage: [JCP.N] ((bangalore.newsroom@thomsonreuters.com;)).  Full Article

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